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DASH/BTC Imminent Breakout

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Dash (DASH)


Market Cap: $2.17B

Circulating Supply: 8.13M DASH

Max Supply: 18.9M DASH

Volume (24H) $114.09

DASH/USD = $268.17


DASH Technical Analysis


DASH/BTC is trading right below some very, very important resistance levels. It seems somehow motivated to pass above them, but it remains to be seen if the buyers will have enough energy to push the rate higher. The rate moves in a range in the short term after the failure to move towards the downside line of the down channel and after the false breakdowns below the lower median line (LML) of the major descending pitchfork and below the outside sliding line (sl)of the ascending pitchfork.


 

Right now you should stay away and wait for a valid breakout from the down channel, above the lower median line (lml) and above the 0.041780 static resistance (support turned into resistance). It is very important for the price to make a valid breakout from this minor accumulation because if it stays too much within it, it could turn into a distribution and the rate could drop further.

DASH/BTC has shown an oversold sign when it has failed to approach the down channel’s downside line, but we still need a confirmation that we may have another leg higher.


 Conclusion 


DASH Technical Analysis: A valid breakout above the mentioned near-term resistance levels will give us a great chance to go long on this crypto pair. It could find temporary resistance at the 50% lines, but the major target remains around the median line (ML) of the major descending pitchfork and at the median line (ml) of the ascending pitchfork.

 

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