Technical Analysis for DSHUSD for 22nd November 2021
DASH is Under Pressure, More Losses Expected below $170
Past Performance of DASH
Like the rest of the markets, DASH prices are stabilizing though bears have the upper hand.
As per the DASH technical analysis of the daily chart, DASHUSDT prices are within a bear breakout pattern.
Even so, sustained gains above $210 may see DASH expand to $240 or better in the days ahead.
What to Expect of DASH
Technically, DASHUSDT prices are inside a bull flag as per the candlestick arrangement in the daily chart.
Despite the optimism, the failure of DASH bulls to clear $240 and $300 may call into question the strength of buyers.
Ideally, the uptrend would be firm if there is a complete reversal of September 2021 losses.
Therefore, considering the performance in the daily chart, losses below $170 and the support trend line may see DASH tumble to September 2021 lows of around $140.
DASH Technical Analysis
From a top-down analysis, lower lows are signaling structural weakness.
Ideally, as mentioned earlier, there should be a high volume close above $240 to reveal bulls' conviction.
For now, DASHUSDT prices are hot and cold, waving inside a bull flag.
Better opportunities may present once there are clear breakouts.
In this case, if bears flow back, forcing DASH below $170, aggressive traders may find entries to liquidate in the direction of the September trend, setting sight on $140.
On the flip side, surges above $240 may prepare DASH for a welcomed rally towards $300.
Resistance level to watch: $240
Support level to watch: $170
Disclaimer: Opinions expressed are not investment advice. Do your research.
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