DASH/USD market overview: Bulls falter at $95 resistance line again
- DASH/USD went down from $93.80 to $92 this Wednesday as bulls lose steam.
- The market tested the $95 resistance line for the first time since February 24 and failed to breach past it again.
DASH/USD failed to break past the critical $95 resistance line after enjoying a price surge following its PolisPay integration. Its price went down from $93.80 to $92. The bulls were able to test the $95 for the first time since 24th February. On both occasions, they failed to breach past the level. The last time the market was trading above $95 was in late December 2018.
DASH/USD 4-hour chart
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The DASH/USD 4-hour forms a bearish flag which is prime for a breakout. The last three bars in the Elliot Wave histogram are red which indicates that the short-term sentiment is bearish. The Ichimoku indicator still shows that the overall mood remains and will remain bullish. The bulls will need to defend the $91 support line to prevent any more downward momentum.
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.
