DASH/USD breaks trendline support at 315, stay short for 285
DASH/USD has shown a break at strong trendline support at 315 on the 4H charts.
Recovery attemps in the pair have been capped below new trendline support turned resistance at 320 levels.
On the daily charts, the pair has slipped below 5-DMA on Monday's trade and on the day upside was capped at 5-DMA at 320.
Price action is below daily cloud and major EMAs. Scope for weakness till 283 (major trendline support). Further weakness only on break below.
On the upside, breakout at 320 could see further gains. Next major resistance above 320 lies at 342 (21-EMA).
Break above 21-EMA could see test of 50-DMA at 409 levels.
Support levels - 300, 283 (trendline)
Resistance levels - 320 (5-DMA), 342 (21-EMA)
Good to stay short on upticks, SL: 325, 300/ 285
Recovery attemps in the pair have been capped below new trendline support turned resistance at 320 levels.
On the daily charts, the pair has slipped below 5-DMA on Monday's trade and on the day upside was capped at 5-DMA at 320.
Price action is below daily cloud and major EMAs. Scope for weakness till 283 (major trendline support). Further weakness only on break below.
On the upside, breakout at 320 could see further gains. Next major resistance above 320 lies at 342 (21-EMA).
Break above 21-EMA could see test of 50-DMA at 409 levels.
Support levels - 300, 283 (trendline)
Resistance levels - 320 (5-DMA), 342 (21-EMA)
Good to stay short on upticks, SL: 325, 300/ 285