Dash Price Weekly Analysis – Downside Break

Dash Price Key Highlights

  • Dash price after a sharp spike higher failed to hold gains and traded lower.
  • There is a major trend break noted, which is likely to ignite more declines in the short term.

Dash price once again failed to continue trading higher and moved back lower to clear a major support area.

Dash Price – Retest of 0.0125BTC

We highlighted this past week that the price could trade higher, and bounce sharply. There was an upside reaction, but buyers failed to outpace sellers after some time. There was a solid selling interest noted around the 50% Fib retracement level of the last drop from 0.0137BTC to 0.0124BTC. The price failed around the mentioned fib level, as there were two attempts to clear it. After the failure, the price moved lower and looks set for more losses.

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The main point to note is the fact that there was a bullish trend line on the hourly chart, which was broken during the downside reaction. As the price has cleared the highlighted trend line it has opened the doors for a move

Read more ... source: TheBitcoinNews