jonathanvn

DASH still mainly bearish + Key resistance targets

KRAKEN:DASHEUR   DASH / EUR
I noticed that DASH recently broke through one of its main resistance trendlines (diagonal one) and retested it kinda but not strongly yet.
Also if you can see volume is increasing and it's mostly the upward movements that are made by lots of volume (seen on lower timeframes).
Still however the volume is currently in bearish triangle pattern and will need to be pushed through.

Keypoints of this analysis
  • There hasn't been this much volume in 1D since 1 of april '19.
  • ATL on Kraken was recently hit. (34EURO)
  • 314EURO is the biggest resistance target to watch out for
  • Volume is still in downtrend
  • There's also alot of longterm resistance between 62-79EURO

Weekly timeframe also shows DASH is quit underbought, also the convergence line on the MACD indicator crossed the divergence line with a bit of velocity and shows since first in longtime positive movement. (not on chart)

It's too early to say that the bulls are coming back but if they do so, they will have a very hard time breaking through...

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