Sellers’ momentum is low in Dash market
DASH Price Analysis – October 22
More pressure from the sellers will send Dash price below $39 level, and may decline towards $32 level and below it is a barrier at $27 support level. In case the bulls defend the support level of $39, price may reverse and face the resistance level of $42, which may extend to $45 and $48. .
Resistance levels: $42, $45, $48
Support levels: $39, $32, $27
DASH/USD Long-term Trend: Ranging
Dash price is on the ranging mode in the long-term outlook. The sellers were able to push the Crypto to the support level of $39 on 18 September with a strong momentum. The buyers tried to defend the support level and the price is pushed up to retest the resistance level of $42 but unable to penetrate it. The coin commence a ranging movement within the resistance level of $42 and the support level of $39 up till date.
The 9 periods EMA is below the 21 periods EMA while the coin is trading below the two EMAs which indicate a bearish movement in the DASH market. At the moment, the price is struggling to break down the support level of $39. More pressure from the sellers will send the price below $39 level, and may decline towards $32 level and below it is a barrier at $27 support level. In case the bulls defend the support level of $39, price may reverse and face the resistance level of $42, which may extend to $45 and $48.
DASH/USD Medium-term Trend: Bearish
DASH/USD is ranging on the 4-hour chart. The resistance level of $42 holds the price and the bulls could not break up the level. In the same way, the support level of $39 withstand the pressure from the sellers. In other words, the currency pair is range-bound within the resistance level of $42 and support level of $39.
DASH is trading over and around the 9 periods EMA and 21 periods EMA which indicate a ranging market. The Relative Strength Index period 14 with its signal line pointing up at 52 which connotes a buy signal.
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