Technical Analysis for DSHUSD for 7th December 2021
DASH Sinks to Print New Q4 2021 Lows, DASHUSDT Bearish Below $150
Past Performance of DASH
DASH prices are now at new H2 2021 lows, down 53 percent from August peaks.
The path of least resistance has been defined and sellers are firmly in control.
At this pace, the odds of sellers stepping up and completely reversing gains of H2 2021 remain high.
What to Expect of DASH
As from the DASHUSDT chart, buyers are shredded, and the uptrend is over.
This follows the rapid, high volume close below $150—the round number marking September 2021 lows.
With this trend definition and sellers angling to clip buyers' progress of the past five months, every high may offer entries for aggressive DASH sellers.
This outlook is valid provided prices trend below $150—the 78.6 percent Fibonacci retracement level of the H2 2021 trade range.
DASH Technical Analysis
Technically, it is highly likely that DASH prices will slide to retest $110 considering the formation in the daily chart.
Specifically, DASH buyers didn't reverse September 2021 losses. Instead, DASHUSDT prices rebounded from the 38.2 percent Fibonacci level of the bear candlestick—pointing to strong bear momentum.
Since DASH prices are trending below September lows—in a bear trend continuation—the odds of sellers pressing lower to retest H2 2021 lows at $110 cannot be discounted.
This outlook holds as long as DASHUSDT is below $150.
Resistance level to watch: $150
Support level to watch: $110
Disclaimer: Opinions expressed are not investment advice. Do your research.
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