- Dashcoin has recently formed a pennant pattern on daily charts
- Dashcoin value may zoom by $60(length of the pole), pushing the coin to $180-$190
Dashcoin value surged 77% after completing the flag and pole pattern, but the bull rally may not halt yet. The coin has made a pennant pattern while taking a breather on its way upwards, which can surge the dash coin value by 54% till $190 levels approximately. The market value and 24 hour volume are $1,227,057,404 and $96,331,752 respectively.
Skyrocketing Dash Coin Value: Flag And Pennant Pattern
Dashcoin value has a potential upside of 53% since the coin has made a pennant pattern on its way down while taking a breather. Currently, the coin is consolidated and making doji candles. An increase in buying pressure from here can be concluded as a breakout if accompanied with volume.
The Bollinger Bands have contracted, providing support at $127.476 and $110 whereas the resistance is $145. The VWAP offers support at $123.774.
The stochastic is declining gradually and has reached 50 levels. A further decline from here can cause breakdown; meanwhile, a surge will lead to a breakout.
The MACD(8,21,5) made divergence a few sessions back, which caused the bull rally to hold. A cross down from the current level will bring the bears, or a crossover will resume the bull run.
The ADX is at 39 levels which describe the trend as very strong. Also the DI+ and DI- are at 26 and 14 levels suggesting the buying pressure exceeds the selling pressure.
Conclusion
Dashcoin value has reached to $125 levels where the coin is making continuous doji candles at the tip of pennant formation. The coin may breakout or breakdown from these levels and move either side by $60(length of the pole). We can set targets at $185 and $85 for either side movement.
Support: $120(horizontal support) and $110(lower BB)
Resistance: $145, $160 and $180.