Header help text

Start trading with a free $30

There is no better time than now
Your first deposit is on us


Grab your $30 from XM

Cryptocurrency
by Seth Parker on May 21, 2018

Dash Analysis – 280 USD is a new target here

The second guest on our portal on Monday will be Dash. Our last piece about this crypto was written on the 2nd of May and it was actually showing the beauty of the price action: if the price will break a certain level, there will be a signal, if not, there will be no signal. This is very common for the price action. You do not have to believe in anything, all you need to do is too react on what the price is doing. You do not need a hope or predictions. Its all about timing. Almost three weeks ago we said:

“450 USD looks strong and as long as we stay above this level, the sentiment is positive.
The closest resistance is the 560 USD, which is relevant for Dash since the middle of November. The breakout of this area will be a major buy signal for Dash and could open us a way towards the all time highs.”

Dash Chart

The price did not break the 560 USD resistance, so there was no buy signal. The price broke the 450 USD instead, which denied the positive sentiment. After that, we tested that level as a resistance and the price respected that area and went significantly lower. For us, that is a clear sell signal. Not only for us but for most traders using the technical analysis. The potential target for the future drop is the area around the 280 USD, so the lows from March and April. Chances that we will get there are high. Sell signal will be denied once the price will climb back above the 450 USD, which for now, seems less likely to happen.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

More content by Seth Parker

Comments (0 comment(s))