The cryptocurrencies markets are mixed today with some altcoins performing well and others showing losses. The market leader Bitcoin mostly trades flat despite the movements being seen in altcoins.

Dash is one of the cryptocurrencies gaining in price today, but it has met some resistance at the 50 EMA. Dash has failed to overcome the 50 EMA since September. The volume on the rise is low showing that there could be little strength behind it.

Price also has a downward trend line which has been forming since September. Despite the gain being recorded today in the Dash, it has a slightly more bearish setup than some of its competitor cryptocurrencies.

The price in Dash has been forming a series of higher highs and higher lows today. Dash is ranked twelfth in terms of the total market cap of cryptocurrencies and lacks the liquidity of some of the higher cap coins. This has resulted in some volatile trading which can be a difficult environment for traders to take positions in.

The hourly 50 EMA is looking set to cross the hourly 200 EMA to the upside, forming a golden cross. However, this may have little impact given the volatile movements already seen today and also taking into account that the hourly is a lower timeframe that does not hold as much weight. The MACD continues to diverge to the upside showing that the short-term momentum is with the buyers. Price has started to retrace as it meets both the downward trendline and the daily 50 EMA.

Dash Outperforms Competitor Cryptocurrencies but Meets Resistance at 50-day EMA was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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