Technical Analysis for DSHUSD for 4th November 2021
DASH Prices Inside a Wedge, Resistance at $220
Past Performance of DASH
DASH may be highly adopted in Venezuela, acting like money.
Even so, DASH/USDT prices are under pressure, moving inside a descending wedge.
Currently, DASH is at around breakeven versus the greenback and trailing BTC.
What to Expect of DASH
DASH candlestick arrangement suggests weakness.
Despite higher highs in recent days, buyers are yet to reverse the losses of October 27.
From a volume analysis perspective, this is bearish. This will nonetheless change if there is a break above $220.
Depending on the participation levels, this may be the base for leg up back to $280 or August 2021 highs.
Conversely, losses below the wedge confirming losses of late October may trigger a sell-off towards $140.
DASH Technical Analysis
There are a series of higher highs relative to the lower BB, reading from CryptoAltum price feeds in the daily chart.
All the same, DASH/USDT prices are in a tight range within a wide-ranging bear bar which has thus far defined price action.
As mentioned earlier, DASH bulls need to unwind losses of October 27. In that case, a break above $220 would cancel the downtrend, drawing demand.
On the other end, reversal of recent gains and syncing of price action with last week's losses may see DASH crash below the primary trend line towards $140—or September 2021 lows.
Resistance level to watch: $220
Support level to watch: $140
Disclaimer: Opinions expressed are not investment advice. Do your research.