Dash recorded some good gains alongside Bitcoin so far in the month of April, however we can see some bearish action on the market, lets take a look.
The chart shares a lot of similarities with with most of the other major crypto pairs this month, however it is important to note that the trend is still in tact.
It is a good practice for traders to follow the trends as much as possible when in a winning position.
In my opinion Dash (and most other majors) should follow Bitcoin when it comes to market action versus Fiat.
With that in mind I would put the near term support around $450, if this should fail I will wait to see what the market action brings before considering going long on Dash.
Resistance is at $500 and I feel the bulls will have to convincingly break through resistance to summon some fomo.
Lets take a look at how Dash has been performing against Bitcoin so far this month.
Taking a look at the 4hr candle chart vs BTC, we can see a possible Head and Shoulders candlestick formation developing. This is bearish in my opinion and will put the back-burner on the gains versus Fiat.
Near term support for Dash vs Bitcoin is around 0.05 and should it fail to act as support I would expect some selling off in the market.
The bears hammered the ceiling together at 0.054 – 0.058, so it would be wise to see what the bulls have to bring to the table before jumping into any longs.