- Dash price trading below all significant moving averages, might fall further if it breaches critical support.
- Technicals favouring the bears, bulls in trouble.
- DASH/BTC is trading at 0.003203 BTC with an intraday change of -2.48% while DASH/ETH is trading at 0.05098 ETH with an intraday change of +0.38%.
Dash coin price is currently below all the significant 50, 100 and 200 day moving averages, which is a sign of bulls slowly losing their grip. The price recently failed to hold the 100 day moving average which acted as support and now it will pose as immediate resistance. If the price continues to stay below all the mentioned moving averages, we might see Dash price fall further.
The relative strength index(RSI) is also sliding downwards from the normal zone, indicating that a bearish momentum is prevailing in the current scenario. If the RSI line does not bounce, we will see further fall in the price of Dash.
The moving average convergence divergence(MACD) is also suggesting a shift of momentum for the time being. Both the MACD line and the signal line are below the zero line and the signal line is seen curving downwards, which might not be a good scenario for the bulls. If the histogram starts printing red bars, we might see the bulls getting squeezed.
The Fibonacci indicator is suggesting an immediate support at $169.5 price levels. If the price fails to hold this level then $147.5 and $111.9 price levels will come to play. The resistance levels indicated by the fibonacci are $187.2, $205, $230.3.
NOTE: The moving average 50, 100 and 200 are in colour Yellow, White and Red.
The MACD line is coloured Blue and the signal line is coloured Red.
The important support and resistance to keep and eye on are:
SUPPORT:$169.5, $147.5 , $111.9
RESISTANCE: $187.2, $205, $230.3.
TAKEAWAY: Keeping the technicals mentioned above, if the price fails to hold the critical support mentioned by the Fibonacci, we might see Dash price falling downwards in the near future.