Dash Price Analysis (February 16)
• The overall outlook of the coin market is bullish in trend.
• The bears may have a temporal control.
DASH/USD Medium-term Trend: Bullish
• Resistance levels : $140.00, $150.00, $160.00
• Support levels: $30.00, $25.00, $15.00
Dash is in a bullish trend market in its medium-term outlook. The bulls lost momentum at $134.45 in the resistance area; the large bearish candle at $115.57 returns the price to the support area before the end of the session yesterday.
Today’s daily candle at $120.80 in the support area opens on a bearish note, as the bears dictate the market.
The momentum in price continues down south as the bears drop the price to $99.79 in the support area as the bears are returning in a grand style to the market.
Price is above the two EMAs with its wick touching the EMA 9, an indication of an uptrend in price of the crypto, thus, the stochastic signal pointing down at 50% suggests the Dash may likely encounter a change in trend in the future in the medium-term perspective.
DASH/USD Short-term Trend: BearishThe cryptocurrency is in a downtrend in its short-term outlook. The bullish candle at $120.80 in the resistance area opens the 4-hourly candle today. Bulls further push the price up to $124.39 in the resistance area.
Formation of a doji candle $120.40 signals the return of the bears. Price drops to $111.02 in the support area.
Bears’ exercised pressure further drops price of the coin to $99.79 with its wick breaking the support line.
Price is below the two EMAs, this implies downward momentum in price of Dash.
However, the stochastic oscillator signal pointing downward at 21% in the oversold region suggests the price of the coin may likely experience a change in trend in the days ahead in the short-term.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.