Dash is showing multiple signs of winning the tug of war with the bears which has pulled it down to prices not seen since mid-December.
Historically when Dash has fired up the after burners it delivers dependable triple-digit gains in under a week.
Price action has just moved out from decending overhead resistance from a falling trendline and the 20 and 50 period moving averages on the 4 hour chart, and only has to contend with the 100MA over the next couple of hours.
On the 1 hour time frame the 20MA is crossing bullish over the longer 50MA and 100MA indicators, all on the back of bullish RSI and MACD signals.
Even more importantly perhaps is the recent surge in volume which actually screams of more buying demand than the lower volume levels which propelled Dash from 0.035 to 0.095 (170% gain) back on the 5th of November 2017.
Watch key resistance levels for potential targets and possible rejection at:
0.056
0.062
0.074
0.095
Stop Loss = 0.0465 (-6%)
Warning: Although all signals look good at this stage, a crash of BTCUSD -0.36% pricing could send the whole market into free fall again and drag Dash even further down with it. If that happens the current reversal could morph into a bear flag with a target of 0.04.
Historically when Dash has fired up the after burners it delivers dependable triple-digit gains in under a week.
Price action has just moved out from decending overhead resistance from a falling trendline and the 20 and 50 period moving averages on the 4 hour chart, and only has to contend with the 100MA over the next couple of hours.
On the 1 hour time frame the 20MA is crossing bullish over the longer 50MA and 100MA indicators, all on the back of bullish RSI and MACD signals.
Even more importantly perhaps is the recent surge in volume which actually screams of more buying demand than the lower volume levels which propelled Dash from 0.035 to 0.095 (170% gain) back on the 5th of November 2017.
Watch key resistance levels for potential targets and possible rejection at:
0.056
0.062
0.074
0.095
Stop Loss = 0.0465 (-6%)
Warning: Although all signals look good at this stage, a crash of BTCUSD -0.36% pricing could send the whole market into free fall again and drag Dash even further down with it. If that happens the current reversal could morph into a bear flag with a target of 0.04.