Dash price analysis: Hits the barrier after breakout
|- Dash prices break out of a falling wedge, in the short term.
- Hit a horizontal resistance immediately.
Dash bulls rejoice after breaking out of a technical pattern on a short term chart but their joy was shortlived as it hits a barrier immediately after a breakout rally and unless this resistance is crossed, this small rally may also fizzle out.
DASH/USD is up more than 4 percent on day at $432.689 but has come off quite a bit after hitting a high of $453.84 immediately after breaking out of the falling wedge pattern on the 240-minute chart and there comes a horizontal resistance line in the form of earlier lower lows.
On the daily chart too, the price pattern suggests it is stuck in a downward sloping lower low, lower high pattern and thus faces multiples resistances in the short term as well long term charts.
DASH/USD 240-minute chart:
DASH/USD daily chart:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.