Down, Not Out? Dash Price Probably to inherit $600
Dash is dropping profits at once again, but appears set to defend $600 levels.
But whatever the reason, cost chart analysis also favors additional upside, albeit following a healthy technical correction to $600 amounts.
As per CoinMarketCap, the world’s fifth biggest cryptocurrency by market capitalization is currently trading at approximately $685 — down 9.3 per cent on the day — after rising to an all-time top of $826.95 in 09:59 UTC.
- A bearish price-relative strength index (RSI) divergence.
- 50-MA, 100-MA, and 200-MA are sloping upwards and placed one under the other in favor of their bulls.
- The increasing trendline (blue line) could offer support at $583 amounts)
1 reason may be the positioning in the information of the asset, with bands connected with the protocol declaring earlier this week they would partner to help solve Zimbabwe’s financial crisis.
The chief at blockchain information, CoinDesk is an independent media outlet which strives for the highest journalistic standards and abides by a strict set of qualitative policies. Have a story or breaking news idea to send to our journalists? Speak to us in firstname.lastname@example.org.
On the chart above:
Trampoline image via Shutterstock
Check out the respective markets demonstrates that the rally is being fueled by Korean couches. One of the biggest exchanges in South Korea, trading volume in set offered by Bithumb, has gone up 30 percent in the past 24 hours.
Released at Thu, 30 Nov 2017 15:45:21 +0000
Also notable is that trading volumes have struck a record high of $4.84 billion, implying the rally may be here to stay.
Dash could fall to $600-$580 rates, courtesy of the bull market exhaustion about the chart along with the bearish cost RSI divergence on the 4-hour chart.
The foundation appears to have changed higher to $600 amounts — i.e. dips below $600-$580 may be short-lived as signaled by means of a pattern of higher lows (increasing trend line on the 4-hour chart) and upwards moving moving averages.
Dash Price Likely to Defend $600
Disclaimer: This guide shouldn’t be chosen as, and isn’t intended to supply, investment information. Please conduct your own research before buying any cryptocurrency.
The chart shows: