Dash Price Analysis (May 10)
DASH/USD Medium-term Trend: Ranging
• The Medium-term and the short-term outlook continues in a range-bound market.
• The bears remained in control of the market within the range
• Resistance levels : $140, $150, $160
• Support levels: $35, $25, $15
DASHUSD remains in a range-bound market in its medium-term outlook. The bears retain the control of the market as the daily session opens begin today at $79.50 in the support area
The cryptocurrency is initially down at $68.05 in the support area within the range.
A divergence is noticed as the signal of the stochastic oscillator points up at level 33% in the oversold region and price stays below the two EMAs. It suggests the overall outlook shows upward momentum while a temporary drawdown may occur within the range in the days ahead in the medium-term.
DASHUSD is ranging and trading between $136.16 in the upper resistance area and at $36.80 in the lower support area of the range. Patience coupled with a retest is needed before a position is taken.
DASH/USD Short-term Trend: Ranging
The cryptocurrency is in consolidation in its short-term outlook. The bears sustain pressure with a large bearish engulfing candle at $79.50 in the support area opens today’s 4-hourly session.
DASHUSD drops to $68.05 after which the bulls return briefly and moves the price up at $74.17 in the resistance area.
The bears return afterward and drop the price initially down at $72.47 now in the support area within the range.
With a price below the two EMAs and the stochastic oscillator signal pointing down at around level 30% in the oversold region, it suggests that the downward momentum within the range in the short-term.
DASHUSD is ranging a breakout at the upper resistance area or breakdown at the lower support area may occur, hence patience is required to allow this to happen with a retest before a position is taken.
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.