2018-12-12 17:24 |
Dash Weekly Chart – Source: Tradingview.com
As we can see from the Weekly chart, DASH has fallen 96% from its January highs of around $1500 and is now trading in the $60 range. There is some support at the $60-65 area, but it is not a substantial support area. The most solid support area is the at the $10-15 area (green rectangle) which was the trading range before the entire 2017 bull market began.
Long-Term Outlook Dash 3-Day Chart – Source: Tradingview.comA look at the 3d chart paints a similar bearish picture. Price is trading below all moving averages (7, 21,50 and 200 period) and has made multiple bearish crosses with both the 50 and 200-period MA (yellow arrows). Furthermore, price faces resistance from a thick cloud. The RSI is at the lowest level it has been, however, there is no bullish divergence developing.
Medium-Term Outlook Dash Daily Chart – Source: Tradingview.comA look at the daily chart shows that there is no structure in which price is trading. It broke the $120 level of support, and now it is currently falling, with no visible pattern in sight. As a silver lining, there is a small amount of bullish divergence developing both in the RSI and Chaikin oscillator, but nothing substantial. It is worth noting that the other major alternate coins (Litecoin, Ripple and Stellar) have developed a lot more bullish divergence in the same time frames.
Short-Term Outlook Dash 12-Hour Chart – Source: Tradingview.comA look at the 12hr chart gives a similar picture to the daily. Price is falling without a pattern, and there is a small amount of divergence developing, but nothing substantial.
Conclusion: Dash has lost 96% of its value since January. It is currently trading at a small support area of $60-65. The next support area is at $10-15. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.Dash: After the Fall, Where Does Price Find Support? was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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