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Cryptoknowmics 2022-08-18 11:52:33

DASH Technical Analysis: DASH Prices Stuck At $52, Desires Reversal

The DASH price action shows a bullish failure to exceed the 100-day EMA resulting in a price drop to the $52 support level, warning of a fall below $50. Key Technical Points: The market price has dropped by 10% in the last week. The market price struggles to take support at the 50-day EMA. With a market cap of $578 million, the intraday trading volume of DASH has increased by 3.40% to reach $94.1 million. Past Performance of DASH The DASH price action shows a bullish failure to cross above the 100-day EMA, resulting in a retracement to the 50-day EMA close to the $50 mark. The downturn accounts for a 10% drop last week, with a spike in intraday trading volume reflecting a boom in selling pressure. Currently, the market prices sustain above the $52 mark and project the possibility of a bullish turnaround as a post-retest reversal. Source – Tradingview DASH Technical Analysis The DASH price action reflects an increase in the higher price rejection in the daily candles, evident by the long wick formation. Hence the price action analysis sustains a bearish viewpoint for the upcoming price trend. As the market price has holidays between the 50 and 100-day EMAs, traders can expect a breakout entry shortly. The daily RSI slope displays a slight reversal from the halfway line in the nearly overbought zone, projecting a bullish retribution phase. Moreover, the MACD indicator shows a downtrend continuation in the fast and slow lines as ...

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