*** *** For this particular analysis on Dash we are using the DASHUSDT symbol on the OKX exchange. *** ***
The idea is on the 1D time-frame where DASH is approaching the 1D MA200 (orange trend-line) for the 2nd time since the November 08 rejection (FTX). This is the first time since the price broke below the 1D MA200 (December 01 2021) and never touched it again, that it will approach it twice on such a short time window.
This is the ultimate Resistance test for the coin as, as mentioned, it has been unbroken since Dec 01 2021. Ideally, we would like to see a break above the November 10 2021 Lower Highs trend-line, before calling for a long-term bullish reversal on DASH, in which case we can start targeting the Fibonacci levels since its 2021 All Time High, one by one, with the 0.236 Fib (at 58.7) being the first, which was the Resistance on the August 09 2022 High.
Notice also the RSI on the 1W time-frame, which is also making a key test on its August 2021 Lower Highs trend-line. A break there, can possibly be an early bullish reversal indicator.
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