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Cryptocurrency
by Seth Parker on December 10th, 2018

Dash Analysis – As for now it’s -6% and it seems that it is not the end

Third crypto in today’s technical review is the Dash. This one of the most popular altcoins was previously mentioned here on the 10th of September. That was the time, when we saw a chance for a rise but in the same time, we were aware of the importance of the resistance on the 220 USD”

“Currently, we do have a buy signal but the price is below an important resistance on the 220 USD (yellow). As long as we stay below, I would be careful with buying. After the breakout, yes, feel free to do that but as long, as we stay below, we still have some chances for a bearish bounce. „

dash chart

What happened was that the price continued the short-term sideways trend but did not manage to break the 220 USD resistance. That state lasted until the middle of November and till that time, Dash managed to create a symmetric triangle pattern (red lines). Breakout to the downside was a total mood killer and was a reason for the 50% drop in value. Today, we do not bring any good news. Buyers tried a reversal but all they have for now is a mild correction. The sentiment remains negative, as long as we stay below the orange resistance. Only the comeback can recover the optimism but chances for that are illusionary.

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.

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