- Nevertheless, if the bearish pressure continues, the DASH market will fall to the previous low of $120 price level.
- Nevertheless, if the 0.50 Fib. retracement level is broken, the price will depreciate to the 0.618 Fib. retracement level.
DASH/USD Medium-term Trend: Bearish
- Resistance Levels: $160, $180, $200
- Support levels: $130, $110, $ 90
Yesterday, June 10, the price of DASH was in a bearish trend zone. The DASH price reached its peak price of $180 on May 19 but the bulls were resisted. The DASH market had been on a downward correction after the resistance. On May 20, the price fell and found support at the 12-day EMA. On June 3, when the bulls were resisted, the price fell below the EMAs.
The crypto’s price is below the EMAs which indicate that the price is likely to fall. Nevertheless, if the bearish pressure continues, the DASH market will fall to the previous low of $120 price level. Meanwhile, the market is at the oversold territory of the daily stochastic indicator but above 20% range. This means that price is in a bullish momentum and a buy signal.
DASH/USD Short-term Trend: Ranging
On the 1-hour chart, the DASH price is in a bullish trend. On June 10, the bulls reached a high of $151 price level. The bulls were resisted and the crypto’s price commenced a downward correction. The bears broke the 12-day EMA and the 26-day EMA to reach the bearish trend zone. From the Fibonacci tool, the crypto’s price has broken the 0.236 and 0.382 Fib. retracement levels. These are continuation zones for a trending market. The crypto’s price is now trading in the 0.50 Fib. retracement level.
This zone is the downtrend zone where the trend can be reversed. Nevertheless, if the 0.50 Fib. retracement level is broken, the price will depreciate to the 0.618 Fib. retracement level. Nevertheless, the DASH market has reached the oversold region but below the 20% range of the daily stochastic indicator. This indicates that the DASH price is in a bearish momentum and a sell signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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