Dash Price Technical Analysis for 07/24/2015 - Ready to Breach Support?
Key Highlights. Dash price is resuming its downside bias and is making another attempt to breach the descending triangle support. RSI is on middle ground but is pointing down, indicating that there is downside potential. Stochastic just reached the oversold zone and is moving up, suggesting a return in buying momentum later on. A break below the triangle support could mean a selloff until the next floor at 0.0110 BTC. Dash price struggle continues, which could ignite a downside thrust if buyers fail to defend an important support at 0.0125BTC. There could still be a chance for support to....
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Dash is slipping again after briefly maintaining a thin trading range. The cryptocurrency has already retested the previous low of 0.0135BTC and looks all set to challenge the April-low of 0.0131BTC. The market has shown no interest in Dash and consequently, the upward momentum has faded leading to a drop in cryptocurrency value. Each Dash is now worth 0.01365BTC, which is 2.5% down from yesterday's level of 0.014BTC. Technical analysis implemented on the 360-minute DRK/BTC price chart brings forth some very interesting trading information. Chart Structure - In a major dent to the bullish....
Since August 31st, 2015, when DASH left the largest exchange Bitfinex this cryptocurrency has had to cope with difficult times. Despite its technical originality and regular updates the DASH price continues its downtrend. Most traders are not ready to wait for DASH to be recognized. But, on the level 0.05 - 0.06 it could be a good time to buy, as the number of masternodes isn’t falling, which means that we are talking about speculative attacks.
Bears hold complete control over Dash as the cryptocurrency continues with its spree of hitting fresh lows. In my earlier analysis on Dash, I had mentioned that the cryptocurrency is steadily losing and that it is best to stay on the short side of the trade; those who had followed this advice would have made good money (or avoided huge losses) as the cryptocurrency has plummeted to a 1-month low of 0.01231BTC. Dash is still under extreme selling pressure, languishing near the lows at 0.01254BTC. Although it is incredibly difficult to comment now as to when the ignored cryptocurrency will....
In my previous analysis, I had discussed that a breakout from the long-held trading range would strike Dash; what followed is that the price crumbled to lower lows and is now retesting the previous support level. Since the resistance has converged with the (broken) support, the bears are increasing their pressure. With a loss of 2.95%, Dash is trading at 0.01363BTC. Technical analysis implemented on the 360-minute DRK/BTC price chart reveals that more losses may follow in the cryptocurrency and that buyers may get the opportunity to enter Dash at much lower levels. Chart Structure - The....
Dash has rebounded strongly after hitting a fresh 1-month low of 0.01163BTC yesterday; the price has jumped more than 6% from the previous observation of 0.01175BTC to the current 0.01267BTC. It was earlier discussed that the cryptocurrency was highly oversold and may stage a rebound and now with that accomplished, it will be interesting to see if Dash is able to break the lower-top, lower-bottom structure. Technical analysis of the 360-minute DRK/BTC price chart implies that there is steam left in Dash, but even that may not be enough to script a trend reversal. DashCoin Chart Structure -....