QASH Price Analysis

Is Qash Heading Towards A Consolidation Trap?
  • Qash is trading in a bullish momentum and showing signs of strength and built-up
  • The pair of QASH/BTC is trading flat at 0.000001347 BTC, while the pair of QASH/ETH is trading at 0.00003206 ETH 
  • It is currently placed at the 529th rank
source:tradingview

QASH, over the weekly time frame, is trading on a bullish note, and a breakout is observed above the first resistance levels. However, presently it is consolidating, before moving further in the upcoming trading sessions. After taking support from 50-Day Moving Averages (DMA), QASH is trading above all the major moving averages of 20,50,100, and 200-DMA which indicates the bullish momentum over the monthly chart. It is currently placed at the 529th rank according to the total market capitalization, whereas market capitalization stands at $18,289,561 with an intraday drop of -2.27%.

Source:tradingview

QASH, on the daily time frame, reached near the 2nd resistance level of $0.060, after clearing its 1st resistance of $0.045 level. Meanwhile, the overall trend is still in favor of bulls as QASH is trading above major Exponential Moving Averages of 20, 50, and 200-Day. However, EMA of 20 and 50 are trading above the EMA of the 200-day, generating a bullish momentum for upcoming trading sessions. The critical support which QASH needs to hold is $0.0472, and the levels expected in upcoming trading sessions are $0.057 and $0.085. 

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Relative Strength Index (Bullish) indicates a bullish momentum while trading at 65.65. However, it is currently trading flat near the overbought zone after recovering from lower levels.  

Moving Average Convergence Divergence (Bullish) currently indicates a bullish trend on the daily chart as giving a positive crossover with the significance of Buyer’s line (green) over seller’s signal line (red) with no sign of weakness.    

Support levels: $0.0472 and $0.0450

Resistance levels: $0.060

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Krystian Bielanskihttp://www.thecoinrepublic.com
Krystian is a crypto trader and investor with a background in IT based in Hong Kong. He specialises in technical and fundamental analysis working closely with chartist and algo programmers.

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