THELOGICALINDIAN - Dash amount DigitalCash attenuated a lot and traded appear 50 adjoin the US Dollar and DASHUSD may now abide to face sellers
Dash Price Downside Move
There was a sharp downside move in Dash price, as it austere the $60 abutment adjoin the US Dollar. The amount traded lower and activated the $50 abutment breadth breadth it begin buyers. A new account and account low of $44.65 was formed. The amount started a accretion from the $50 abutment area, and currently attempting to move aloft $60. There was a solid access in affairs pressure, which afire a downside move of added than 15%.
We charge to see how the amount trades and whether it can balance the $60 akin or not. It is already trading aloft the 23.6% Fib retracement akin of the aftermost abatement from the $90 aerial to $44.65 low. So, there are affairs of added recovery. On the upside, a above hurdle is abreast a brace of bearish trend lines with attrition at $68 and $70 formed on the alternate blueprint of DASH/USD (data augment from Poloniex). Moreover, the aforementioned levels accompany with the 50% Fib retracement akin of the aftermost abatement from the $90 aerial to $44.65 low.
So, if the amount recovers further, it could face sellers abreast $68 and $70 levels. However, I anticipate a abutting aloft $60 ability additionally be difficult.
Hourly MACD – The MACD for DASH/USD is placed able-bodied in the bearish zone.
Hourly RSI – The RSI for DASH/USD is bouncing from the oversold levels.
Intraday Support Level – $50
Intraday Resistance Level – $60
Charts from Poloniex; hosted by Trading View
