The bulls are exerting pressure in DASH market
DASH Price Analysis – October 03
When the bulls increase their momentum and push the price above the resistance level of $42, then, $45 and $48 levels may be tested. In case the price is rejected at the $42 level, DASH may break down the support level of $39, the support level of $32 and $27 may be reached.
DASH/USD Market
Key Levels:
Resistance levels: $42, $45, $48
Support levels: $39, $32, $27
DASH/USD Long-term Trend: Ranging
DASH is ranging in the long-term outlook. The support level of $32 was tested on September 18 after it penetrates the $42 level.. The bears’ momentum could not break down the level. The price pulled back and tested the resistance level of $42, the price is trading between the $42 and $39 levels; ranging movement is ongoing within the mentioned levels. Breakout is imminent.
The price is trading below the 9 periods EMA and the 21 periods EMA while the former is below the latter. At the moment, the price has broken down the two EMAs which indicates a bearish movement in the DASH market. Should the bulls increase their momentum and push the price above the resistance level of $42, then, $45 and $48 levels may be tested. In case the price is rejected at the $42 level, the price may break down the support level of $39, the support level of $32 and $27 may be reached.
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DASH/USD Medium-term Trend: Ranging
DASH/USD is ranging on the 4-hour chart. The currency pair is range-bound within the resistance level of $42 and support level of $39. The bulls are defending the support level of $39 while bears defend the resistance level of 42. Ranging movement may continue until breakout take place.
DASH is trading below the 9 periods EMA and 21 periods EMA which indicates bearish momentum and that the bears are dominating the market. The Relative Strength Index period 14 with its signal line pointing up at 45 levels connotes a buy signal.
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