Baxia Markets
By
July 22, 2021

Dash moves aggressively

technical analysis top header -01

Dash breaks the resistance level at $147.42 but has not yet been able to consolidate the breakout.

 

The price made tremendous progress on Monday's session with a maximum gain of more than 50% in a single trading session; however, the price went back down, and the daily gains were about 18.5%. The following day the pair had a big but was able to maintain some of the progress made in the last two sessions.

The Bollinger bands are starting to open at the edge; this could bring higher volatility to the pair. The price currently trades very close to the upper band, and it could be considered relatively high if it continues to make progress and the bands don't open more.

 

Dash july 21st

The relative strength index is at 54%, which will allow the price to continue climbing a bit more in the short term. The price still trades below the Ichimoku cloud; however, it could enter this cloud in the following sessions if the pair continues to gain ground, indicating market uncertainty suggesting a downward trend as the cloud is red and moving downwards.

 

We love to hear new ideas from traders and want to know what you think! 

 

If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

 

Open Live Account  

 

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

 

Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Subscribe by Email