The DASH exchange rate busted through a very important pivot zone yesterday. The large pivot at 0.0159 – which I outlined in my last DASH technical analysis – has now started acting as resistance. In fact, since yesterday, price has been unable to break back above 0.0159, even though several attempts were made. Unless price surmounts 0.0159 over the next few days, another sell-off is likely to follow.
There is also a minor pivot zone at the 0.015 price level, which has been used several times in the past two days; four times as support; once as resistance.
While the higher time frames are painting a very bearish scenario, the 30-minute chart shows some bullish signals. For example, there is a fairly clear Head & Shoulders pattern that has formed around the 0.015 price level, which suggest that price might make another attempt at the 0.0159 pivot.
Disclaimer: This is not trading/investment advice!
Chart source: https://poloniex.com/exchange#btc_dash
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
Velocity Ticket is trying to fix a major gap in businesses, and the approach it…
Axelar is moving fast to contain damage after identifying a security incident that has resulted…
suiUSDe now has a dedicated landing page. The token, officially the eSui Dollar, comes out…
Ventuals has fully wound down its HIP-3 DEX, and vHYPE withdrawals are now open. The…
Avalanche has launched the Avalanche Payments Collective, bringing together 28 organizations spanning nearly every layer…
A wallet tracked as 0x5f91 just opened a fresh 5x leveraged long on ASTER, putting…