The cryptocurrency has not been able to continue climbing after breaking the resistance at 190, the price continues moving sideways and now entered the Ichimoku cloud which is considered an uncertainty area.
The Bollinger bands are very narrow and volatility should be low in the upcoming trading sessions, the price trades at the same level as the upper band, suggesting that it is relatively high, we could see a drop in price in the short term if the bands do not open up.
The relative strength index is currently at 59% which is the one advantage Dash has in order to start a more aggressive uptrend, the support level is now at 190 and if the price drops to this level, its likely to see it sink even more because it doesn't have the strength in the market to hold on.
The moving averages indicate that the price should continue to go up in the short term as there has been a cross and the price trades above both MA’s.
Our parabolic SAR indicator suggests that the price will continue to move up.
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.
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.