Analysis

DASHUSD TECHNICAL ANALYSIS AND KEY HIGHLIGHTS-21.09.2017

Jayanand Sagar | September 21, 2017 | 3:00 pm
DASHUSD
Analysis

DASHUSD TECHNICAL ANALYSIS AND KEY HIGHLIGHTS-21.09.2017

Jayanand Sagar | September 21, 2017 | 3:00 pm

Key Highlights

  • DASH continues to trend higher in the higher time frame charts with major resistance expected at 412.20
  • Price action broke above minor resistance at 330.00 on Monday signaling increasing bull momentum
  • At 362.00, chances of a break above immediate resistance at 412 is likely

TECHNICAL ANALYSIS

Beginning mid-September, price action reversed sharply from major support zone of 218-220 and has since continued to trend higher. It is indicative because at this zone a double bar reversal pattern was formed with price rejection at 220 which is also a region of support as shown by the 50-period moving average. A stochastic buy signal was also printed on 15.09.2017 and since then %k and %d have been diverging hinting sustained buying (refer to above image).

Any retest of minor support zones of 315 or 350 in the in the 1hr chart will represent a good buy opportunity. Stochastics are bullish in the same time frame with a buy signal in place.

DASHUSD, September 21, 2017

Figure 2: DASHUSD 1HR chart-21.09.2017

TECHNICAL INDICATORS

STOCHASTICS
Daily chart-Bullish
1hr chart-European session-Bullish

50 Period MA
Price is trending above 50 MA, so market is bullish

Contributed by Dalmas, a crypto-enthusiast and trader with a keen eye to market trends and analysis.

All charts courtesy of Trading View
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