Dash price analysis: Bears take control of the market after two straight bullish days


  • DASH/USD went down from $93.65 to $92.05 in the early hours of Saturday.
  • The SMA 50 curve acts as the immediate market resistance.

DASH/USD went down from $93.65 to $92.05 in the early hours of Saturday. Before this, DASH/USD has had two straight bullish days, wherein the price went up from $82.73 to $93.72. This Thursday, DASH/USD charted a high of $98, before getting corrected. The hourly breakdown of Friday shows that the price was trending horizontally for a bit and then suddenly spiked up to $93.50. DASH/USD then met resistance and fell to $90.60. The bulls then rallied together and took the price back up to $93.65, before the bears corrected the price to $92.05. 

DASH/USD daily chart

fxsoriginal

This Friday, the price met the upper curve of the 20-day Bollinger band before the bears corrected it this Saturday. The price is trending below the 200-day simple moving (SMA 200) and SMA 50 curves, while it's above the SMA 20 curve. SMA 50 acts as immediate market resistance. The moving average convergence/divergence (MACD) indicator shows increasing bullish momentum. The Elliott oscillator shows 13 straight bullish sessions.
 

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