Hello guys,
I think DASHUSD at current level represent a possible good entry point if examined on daily time frame. As you can see from the chart this crypto could rebound form two main reasons: the first one is DASH is on an important supportive area either respect to USD or also BTC and the second reason is related to volume, which is rising during the last hours even if only against USD.
Indicators are not suggesting us particular informations because the chart against BTC suggest a possible rebound but if we look at the chart against USD is not particularly significant, or better, it indicates a little predominance of negative setting.
If prices are able to break the descending trend line starting from the beginning of May and in particular, if it's able to be over 235 USD (R1) at the end of this trading day, it can rise till to the next resistance area, passing at the moment to around 255 USD (R2) as first step and then to the range between 275 USD and 285 USD (R3), where there is an important resistance area.
To sum up:
If prices breaks R1 235 $: ---> R2 255 $ ---> R3 275$/285$
Stop loss should be set under 205 USD
*** This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
I think DASHUSD at current level represent a possible good entry point if examined on daily time frame. As you can see from the chart this crypto could rebound form two main reasons: the first one is DASH is on an important supportive area either respect to USD or also BTC and the second reason is related to volume, which is rising during the last hours even if only against USD.
Indicators are not suggesting us particular informations because the chart against BTC suggest a possible rebound but if we look at the chart against USD is not particularly significant, or better, it indicates a little predominance of negative setting.
If prices are able to break the descending trend line starting from the beginning of May and in particular, if it's able to be over 235 USD (R1) at the end of this trading day, it can rise till to the next resistance area, passing at the moment to around 255 USD (R2) as first step and then to the range between 275 USD and 285 USD (R3), where there is an important resistance area.
To sum up:
If prices breaks R1 235 $: ---> R2 255 $ ---> R3 275$/285$
Stop loss should be set under 205 USD
*** This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
Trade active:
Long call triggered at 235 USD
Comment:
Stop loss 227 USD
Comment:
First target reached during the night. Price was not able to touch 255$ but 252$ is enough. I sold half position at 248$
Comment:
I closed remaining position at 244$ with a small gain: the movement seems be "tired"