DASH Price Approaches Resistance After Range Raises
DASH regained support at $ 65. The closest resistance is found at $ 77.
The price broke a short term descending resistance line.
The DASH / BTC pair hit their lowest level since 2015.
The course Dash (Dash) has regained a significant level of support after briefly diverted under it.
While the DASH / USD pair is expected to rise towards the resistance zone highlighted below, the DASH / BTC pair should continue to decline.
The DASH regains the bottom of its range
The price of DASH has been moving in a range going from $ 65 to $ 77 since the beginning of September. On November 4, it supposedly moved below the support zone, hitting a low at $ 62.14 before regaining that support soon after. This is an event that often results in considerable movement in the opposite direction.
Technical indicators are fairly neutral, showing trading conditions within a range. The RSI is at 50 and the MACD is at the 0 level, while the Stochastic Oscillator is stuck between creating and rejecting a bullish cross.
So while it is likely that the price will move up towards the resistance zone, it is not certain that it will exceed the resistance zone.
In the short term, the price broke a descending resistance line and then validated it as support before resuming its upward movement.
Technical indicators have started showing weakness, indicating an overbought trend, which could lead to a decline in the short term.
However, it is expected that price will then continue its upward movement, reaching the aforementioned resistance zone
Due to the lack of confirmation of technical indicators, a move above resistance cannot be predicted with any certainty.
Cryptocurrency trader @CryptoDonAlt tweeted a chart of DASH / BTC, claiming the price has reached a capitulation phase and is showing no signs of a bullish reversal.
The price of DASH / BTC did indeed fall below crucial support at 0.04₿ and has been declining ever since. Price is currently moving to its lowest level since 2015. There are no signs of a bullish reversal, although the RSI and MACD are largely oversold. Additionally, although there is wick support at 0.003₿, it is not inconceivable that the price will decline to 0.0012₿.