The bears are exerting more pressure in DASH market
DASH Price Analysis – September 19
Should the bears increase their momentum and push the DASH below the support level of $92, then, $76 and $56 levels may be tested. In case the price is rejected at the $92 level, the price may reverse. The resistance level can be found at $117, $136, and $155 levels.
DASH/USD Market
Key Levels:
Resistance levels: $42, $45, $48
Support levels: $39, $36, $30
DASH/USD Long-term Trend: Bearish
DASH is bearish in the long-term outlook. The support level of $45 was tested on August 28. The bears’ momentum could not break down the level. The price pulled back and tested the resistance level of $48; consolidation was carried out for six days. The bears were able to defend the just mentioned level and formed a bearish engulfing candle which pushed down the price to test the previous low at $39 level. The price action has formed a “Triple Bottom” chart pattern which indicates that the bears are in control of the DASH market.
The price has broken down the 9 periods EMA and the 21 periods EMA while the former is below the latter. At the moment, the price is trading below the two EMAs which indicates a bearish movement in the DASH market. Should the bears increase their momentum and push the price below the support level of $39, then, $36 and $30 levels may be tested. In case the price is rejected at the $39 level, the price may reverse. The resistance level can be found at $42, $45, and $48 levels.
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DASH/USD Medium-term Trend: Bearish, Tamadoge Presale Sells Out
DASH/USD is bearish on the 4-hour chart. The bullish pressure could not withstand the resistance at $48. The bearish engulfing candle emerges, the price decline towards the $42 price level. The price is currently descending trying to break down the support level of $39. There is a high probability that the price will break down the mentioned level.
DASH is trading below the 9 periods EMA and 21 periods EMA which indicates bearish momentum and that the bears are dominating the market. The Relative Strength Index period 14 with its signal line pointing down below at 25 levels connotes a sell signal.
Tamadoge Head of Growth Carl Dawkins spoke at a Blockchain and NFT conference as part of London Metaverse Week on Saturday, with several other TAMA holders in attendance. New crypto token presales and ICOs can often outperform bearish market conditions even if their launch day is a red day – investor sentiment, hype and optimism is highest in the early stages of a new crypto project.
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