DASH in a positive trend

DASH in a positive trend

By Cryptonite | Cryptonite | 18 May 2020


 

 

Hello everyone today I would talk about DASH, one of the most capitalized privacy coin, in the short and medium term the cryptocurrency give us a lot of signals… sometime was bullish and sometime was bearish, anyway  we can try to read those signals and have an idea of what can happen in the future.

 

Medium Term Chart

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In the medium term we can clearly see that DASH jump back from the 40 Dollar level, this price tag was touched on December/ January and also during middle march, the reaction was impressive on year end as DASH jump till almost 150 Dollar that represent a astonishing +275% (min-max), this explosion was generated in just a couple of weeks.

The second time the 40 Dollar was touched (and break for a little period) was in mid march, price was slashed from a maximum of around 138 till  a low of 32 Dollar, in this case we recorded a -77% that is really a lot even for the crypto market standard, from that level the privacy coin was able to rebound and find a sideway movement.

This wide trading range see a low at around 60 Dollar and a top at 89 Dollar, we can notice that the sideway is  still valid since a couple of month and the bulls  try to push the valuation at the  top of the range, in a more short term view the 67 Dollar level could be a valid support if the bears will be able to prevail and push the valuation at lower levels (the red line inside the trading range).

If the mini uptrend we will see in the next chart keep going on we could see a resistance at 83/83,50 Dollar, this will be a prelude to the final push at 89 Dollar…. At this price tag we can see a fair battle between bulls and bears, in case DASH price keep going up we may expect another resistance at 94,50 Dollar.

 

Short Term Chart

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In the last five days DASH was able to draw a very interesting uptrend, we can appreciate in the second chart that price sign higher minimum every wave, bulls now are in a favourable position as they seems stronger than the bears, this movement could held the valuation to attack higher levels.

As a short term trendline we may figure that there is the chance to see a breakout, in this case the target is 73 Dollar, anyway the medium term positive trend would be still solid.

The last chart show how the valuation react when it touch the support and jump up ended with a new mini uptrend.

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Thanks for reading and hope you find this analysis useful…. As always do your own research before investing in any asset .

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Cryptonite
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