Dash Price Analysis – Dash token may gain 20% in the upcoming trading session

  • Dash token shows strong region of support around $ 147
  • The DASH / BTC pair traded at 0.005247 BTC with a gain of 0.96%
  • A clear symmetrical triangle can be seen in a time frame of 4 hours

Source: https://www.tradingview.com/x/yHyDijOn/

In the daily timeframe, after the dash token’s sudden drop, the price finally found support at a level of $ 147, which on that day indicates a lower price rejection candle that day, suggesting a strong demand zone, more vigor for the bulls since the price is currently in a short range and investors should wait until the price does not communicate its intentions.

Dash token is currently trading below all major moving averages of 20,50,100 and 200 EMAs and all will act as valid resistance as the price will be higher. For now, price has to break through 200EMA to risk trend reversal.

The MACD suggests that the bears are slowly losing momentum as investors can see that the MACD line and the signal line have already touched and may result in a bullish crossover that will trigger more buyers for the sprint.

Dash Token shows a symmetrical triangle in the 4-hour time frame

In the 4 hour timeframe, the dash token shows a symmetrical triangle pattern formation as this pattern can cause a breakout on either side should traders wait for the pattern to show its movement.

If the price breaks the downside there is a high chance it will return to its $ 147.5 support and if it breaks out it could give an initial target up to $ 242 which is a strong resistance. The RSI is currently at 52, which suggests neutral to slightly bullish momentum.

Conclusion– From a technical point of view, the price is moving in a range and the investor should wait patiently to seize every opportunity that presents itself.

As mentioned above, the first opportunity anyone can take is to break out of a symmetrical triangle for a good goal of 20%, up to $ 242.

Plus, that $ 242 is a strong resistance level and breaking out of it would also trigger another opportunity to reach higher goals. Therefore, if the price goes up there will be little overlap in major EMAs like 50-200 and you can add more quantities depending on your interest.

support– $ 147

resistance– $ 242

Have this news sent to you personally via Telegram. Join our Telegram for related news and information on CRYPTO CURRENCY, BITCOIN, BLOCKCHAIN ​​NEWS and price prediction.

Comments are closed.