Key Highlights
- DASH continues to trend higher in the higher time frame charts with major resistance expected at 412.20
- Price action broke above minor resistance at 330.00 on Monday signaling increasing bull momentum
- At 362.00, chances of a break above immediate resistance at 412 is likely
TECHNICAL ANALYSIS
Beginning mid-September, price action reversed sharply from major support zone of 218-220 and has since continued to trend higher. It is indicative because at this zone a double bar reversal pattern was formed with price rejection at 220 which is also a region of support as shown by the 50-period moving average. A stochastic buy signal was also printed on 15.09.2017 and since then %k and %d have been diverging hinting sustained buying (refer to above image).
Any retest of minor support zones of 315 or 350 in the in the 1hr chart will represent a good buy opportunity. Stochastics are bullish in the same time frame with a buy signal in place.
TECHNICAL INDICATORS
STOCHASTICS
Daily chart-Bullish
1hr chart-European session-Bullish
50 Period MA
Price is trending above 50 MA, so market is bullish
Contributed by Dalmas, a crypto-enthusiast and trader with a keen eye to market trends and analysis. All charts courtesy of Trading View
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.
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