Dash Price Trading Under Pressure After Breakout From Bullish Flag Pattern

  • Dash trading in red with an intraday loss of -1.69% sustaining above 200 and 50-DMA
  • The pair of DASH/BTC is trading under pressure slips over -1.84% stands at 0.00496916 BTC
source:tradingview

The monthly chart of Dash (DASH) is trading on the higher note and hits new 90-Day High of $122.28. However, some profit breakout pulls it to lower levels of $83.51 then the followup buying or recovery again pulls it to higher levels. A falling channel pattern is formed over the monthly chart on the time frame, and the breakout is observed on 13th, December. Currently, it is trading above 50 and 200-DMA but trading under the 21-DMA. The resistance on the higher side is placed at $122.50 and $140.70 likewise support on the lower side is placed at $86.50 and $62.30. 

source:tradingview

DASH on the daily chart is trading with minor loss of -1.69% after a positive breakout from falling channel pattern. Currently, Dash is trading at the price levels of $94.82, supported by the volume traded in the last 24-hours of $320,697,661 and the total market capitalization stands at $939,079,224. Dash is currently placed under 9-DMA or short term moving averages. The range for intraday is $94.50 and $97.57 lows and highs respectively. 

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The Relative Strength Index (RSI) which indicates the strength of DASH is trading at 37.65 and it is trading flat after a sharp fall from the higher side. 

Directional Movement Index (DMI) is trading with the significance of -DI over +DI, indicating bearish momentum. 

Moving Average Convergence Divergence (MACD) which indicates the trend and currently it indicates the bearish trend on the intraday chart as gives negative crossover with the significance of Bear’s line (red) over Bull’s line (blue) with no sign of recovery.

Support levels: $86.50 and $62.30

Resistance levels:$122.50 and $140.70

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Pratik Chadhokarhttp://www.thecoinrepublic.com
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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