Dash price analysis: April low gone, what next?
- Dash's April low didn't hold up and now risks more downside.
- Bounces may not last, short term resistances in place.
Dash becomes one of the first cryptocurrencies to break lower of the April lows in a sign that the bear market for the cryptocurrencies that started in January 2018 was never ended and the rally seen in late April and early May was only a relief rally.
DASH/USD is up less than a percent on the day at $256.35 and trading in a narrow band of $254 - $259. Dash's April low of $282 was broken earlier this week and the price has been trading below that throughout this week, a sign that more lower levels are here to come.
On the 30-minute chart, the price now faces resistance around $265 which would be tough for the bulls to cross past, while on the lower side a break below $235-$250 range would be catastrophic for this digital currency.
DASH/USD 30-minute chart:
Author
Manoj B Rawal
Independent Analyst
Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.
