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Dash Price Technical Analysis – Double Top?

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
dash price technical analysis double top newsbtc bitcoin cryptocurrency news

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Created by industry experts and meticulously reviewed
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Dash Price Key Highlights

  • Dash price made another attempt to trade above 0.0130BTC, but failed.
  • It looks like there is a double top pattern forming, which if turns out to be true might push the price lower.
  • The price has settled below the 100 hourly simple moving average, which is a bearish sign in the short term.

Dash price failing around 0.0130BTC is a warning sign and might take it lower moving ahead.

Channel Break

We were anticipating a break in the Dash price this past week, and that did happen. The price moved higher, but found resistance around 0.0130BTC which ignited a downside reaction. However, buyers pushed the price back higher one more time, but the most surprising part was the fact that 0.0130BTC once again stalled the upside move. The mentioned scenario created a double top pattern on the hourly chart, and can be seen as a warning sign to buyers.

Dashcoin

The price is currently around the Lower Bollinger Band, which is sitting around a critical bullish trend line on the hourly chart. Moreover, the 61.8% Fib retracement level of the last wave from 0.0124BTC to 0.0131BTC is also helping buyers in protecting downsides. However, if sellers stay in control, and if the double top pattern is valid, there might be a break below the highlighted trend line. If it happens, the last swing low of 0.0125BTC may be tested moving ahead. The hourly RSI is below the 50 level, which supports the view of more declines in the near term.

On the upside, the Middle Bollinger band is a resistance zone, followed by the Upper Band. Besides, there is a crucial barrier forming around 0.0130BTC which needs to be cleared for more gains.

Intraday Support Level – 0.0125BTC

Intraday Resistance Level – 0.0130BTC

Overall, we might witness declines if there is a break below the bullish trend line.

 

Charts courtesy of Trading View

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Strict editorial policy that focuses on accuracy, relevance, and impartiality

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