Dash technical analysis: DASH/USD bulls bounce back after charting morning star pattern
- DASH/USD went up from $110 to $114.70 this Thursday.
- Relative strength index (RSI) indicator has bounced up from the oversold zone and is trending around 39.06.
DASH/USD daily chart
DASH/USD went up from $110 to $114.70 this Thursday. The bulls stepped in and charted the morning star pattern, changing the market sentiment from bearish to bullish. The market is trending below the 50-day simple moving average (SMA 50), SMA 20 and SMA 200 Curves.
Relative strength index (RSI) indicator has bounced up from the oversold zone and is trending around 39.06. The moving average convergence/divergence (MACD) indicator shows that the signal line is looking to crossover the MACD line, showing decreasing bearish momentum.
DASH/USD 4-hour chart
-636996900731299328.png)
The 4-hour price chart is trending in an upwards channel formation and above the SMA 20 and SMA 50 curves. The price was about to go above the 20-day Bollinger band before the bears managed to correct it. The Elliot oscillator shows seven straight bullish sessions.
DASH/USD hourly chart
-636996900267847659.png)
The hourly market has found support on the red Ichimoku cloud. The hourly price shows that the market bounced up from the support level at $111.75 this Thursday. The price spiked up to $115.60, where it met resistance and then fell. The market went up and tried to break past the resistance and failed once again, before settling around $114.70.
Key Levels
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
