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Dash Price Weekly Analysis – False Break

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Dash Price Weekly Analysis – False Break

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Created by industry experts and meticulously reviewed
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Key Highlights

  • Dash this past week settled above an important resistance area, but it looks like a false break.
  • Buyers failed to gain momentum, as the price settled back below 0.0120BTC.

Dash buyers failed to take prices above 0.0125 twice, which means there are chances of it trading lower in the near term.

Important of 0.0125BTC

We highlighted an important resistance area this past week around 0.0125BTC, which acted as a barrier for buyers on more than two occasions. There is also a bearish trend line formed on the hourly chart of Dash, which added to the value of the highlighted resistance. The price once settled above the 100 hourly simple moving average, but later after failing at 0.0125BTC, it moved back below the 100 SMA. As stated time and again in the daily analysis there is a major support band formed around 0.0119-0.0120BTC, which is likely to act as a pivot area in the near term.

Dashcoin

Moreover, the price failed just around the 61.8% Fib retracement level of the last drop from 0.0128BTC high to 0.0116BTC. There are more worrying signs for buyers to note, as the hourly RSI went below the 50 level and the MACD also tilted towards the bearish zone. There is a possibility that the price might move towards the highlighted trend line, which is coinciding with the Upper Bollinger Band. So, 0.0125BTC is a monster resistance area in the short term.

Intraday Support Level – 0.0114BTC

Intraday Resistance Level – 0.0120-2BTC

On the downside, once the price settled below 0.0119BTC, there might be a sharp move lower. In that situation, the price might head towards the last swing low of 0.0116BTC.

Overall, if the price moves higher from the current levels, then 0.0.125BTC might be seen as a selling zone for traders.

 

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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