This website uses cookies to ensure you get the best experience on our website

Technical Analysis for DSHUSD for 24rd August 2022

DASH in a Bear Breakout with Resistance at $52

Past Performance of Dash

DASH prices are stable at press time, following encouraging gains on August 23. The primary trend remains positive, and the pullback may represent further selling opportunities for opportunistic bear traders. This preview, gauging from how candlesticks are arranged in the daily chart, is valid, provided prices are within the August 19 bear bar.

Dash Technical Analysis

DASH is up four percent in the past 24 hours at press time versus the USDT. Still, the coin is broadly within a bear breakout formation below the long-term support trend line and the middle BB. Furthermore, since prices are floating higher with relatively low trading volumes, the immediate trend swings to favor sellers. From the daily chart, the first level of support is at $44, marking last week's lows. A close below this mark may see DASH retrace to 2022 lows at $40 in continuation of selling pressure set in motion at the tail end of last week. This preview will, however, be null should DASH bulls force prices above $52, reversing the losses of August 19.

What to Expect from DSH

The primary trend is bearish, and the coin is within a bear breakout formation. The relief rally of August 23 may be short-lived if there are no sharp gains above $52. Any reversal below last week's low may see even more liquidation in the short term.

Resistance level to watch: $52

Support level to watch: $44

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020