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Breaking News: Crucial Role Of The CLARITY Act In Avoiding A New October 10 Crypto Crash, Expert Explains
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Breaking News: Crucial Role Of The CLARITY Act In Avoiding A New October 10 Crypto Crash, Expert Explains

Dash Price Weekly Analysis – Expanding Range

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:23 pm
2 mins read

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Dash Price Key Highlights

  • Dash price continued to move higher and it looks forming an expanding triangle pattern on the hourly chart.
  • We highlighted recently a flag pattern on the hourly chart, but it looks like it is an expanding triangle.
  • The price is above the 100 hourly simple moving average, which is a positive sign.

Dash price showing a lot of positive signs, which means there is a chance of the price moving higher in the near term.

Expanding Triangle

We highlighted recently a flag pattern on the hourly chart, but it looks like it is an expanding triangle. The price continued to trade higher, and it looks like it might continue to trade higher. The price is also above the 100 hourly simple moving average, which is yet another positive sign. It looks like there are chances of more gains if buyers stay in control. The Bollinger Bands are moving along the price, which suggests that the momentum is with buyers. If they stay in action for some time, then a break higher is likely.

Dashcoin

However, there are many hurdles on the way up for the price, including the 23.6% Fib retracement level of the last drop from 0.0147BTC to 0.0111BTC. The mentioned Fib level is around the Upper Bollinger Band, and the triangle resistance area. Moreover, the previous swing area of 0.0120BTC is also aligned around the same fib level. In short, there is a major barrier formed around 0.0120BTC. A break above the same might call for a move towards the 38.2% Fib retracement level. Let’s see how the price reacts around the mentioned area if it reaches there.

On the downside, the expanding triangle support area holds the key.

Intraday Support Level – 0.0114BTC

Intraday Resistance Level – 0.0120TC

The hourly RSI and MACD started to move in the negative zone, which is a bearish sign.

 

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
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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