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Dash Price Technical Analysis – Topside Bias Vulnerable 2015-08-28

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
The highest standards in reporting and publishing
How Our News is Made

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Dash Price Key Highlights

  • Dash price looks like consolidating in a range with resistance around 0.0120BTC.
  • There is a bearish trend line formed on the hourly chart, acting as a resistance for buyers.
  • The price trading near the 100 hourly simple moving average, and struggling to trade positively.

Dash price struggling to trade higher as 0.0120BTC continued to act as a barrier and stalling gains in the near term.

Downside Reaction

The Dash price remained under a bearish pressure, as buyers failed time and again to take the price above the 100 hourly simple moving average. There was no successful close above the mentioned MA. We stated in this week’s analysis that 0.0120BTC is a major barrier and buyers struggled many time to clear it. The mentioned scenario still exists and now there is a bearish trend line formed on the hourly chart, which is preventing gains in the near term.

Dash Price

A monster barrier at 0.0120BTC holds a lot of importance, as it coincides with the 23.6% Fib retracement level of the last drop from 0.0147BTC to 0.0110BTC. Moreover, there were a couple of other failures noted around the highlighted resistance area. If there is a break above the trend line resistance, then a test of 0.0120BTC is possible moving ahead. It is where buyer’s sentiment might be put to test, and there are chances of buyers failing around the stated area.

On the downside, the Lower Bollinger Band is signaling more losses in the near term. A break below could take the price towards the last swing low of 0.0110BTC. Any further losses might be dependent on how buyers react around 0.0110BTC.

Intraday Support Level – 0.0112BTC

Intraday Resistance Level – 0.0160TC

In short, there is very little hope for buyers as the hourly RSI and MACD are pointing losses.

 

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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