Dash Price Analysis (May 3)
• The price of Dash is likely to encounter a price breakout or a price breakdown in view of a range-bound movement.
• A bullish break at the $136 will make the crypto rally above the resistance level.
• A bearish break at the $36.80 will depreciate the crypto to a low below support price level.
DASH/USD Medium-term Trend: Ranging
• Resistance levels : $140, $150, $160
• Support levels: $30, $25, $15
DASHUSD remains in a range-bound market in its medium-term outlook. The bullish momentum at $83.83 in the resistance area is lost during yesterday's session.
Today’s daily open candle at $83.32 in the support area which is bearish returns the cryptocurrency back within the range.
The coin is initially down at $81.65 in the support area. Price is above the EMA-50 and the stochastic signal pointing up at around level 60% in the overbought region implies the coin is in an uptrend within the range.
DASHUSD is in consolidation and trading between $136.16 in the resistance area and $36.80 in the support area of the range.
A breakout at the upper resistance area or a breakdown at the lower support area may occur; hence patience is required to allow this to happen before a position is taken.
DASH/USD Short-term Trend: Ranging
The coin continues in a range-bound market in its short-term outlook.
The 4-hourly session opens today with the formation of a bullish inverted hammer opening candle at $83.32 in the resistance. An indication of a trend reversal, hence seller’s brief return.
Price of DASHUSD further drops to $81.65 in the support area within the range. A gradual return by the bulls now pushes the crypto’s price up at $82.87 in the resistance area within the range.
Price hovers around the two EMAs; this is an indication of an undefined trend in the context of the market between the buyers and sellers.
Thus, the stochastic signal pointing down at around level 59% suggests that there may likely be a change in trend of DASHUSD in the days ahead in the short-term.
DASHUSD is in consolidation and trading between $89 in the resistance area and at $67.10 in the support area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen 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