Crypto Screener Forums Dash (DASH) Forecast – Technical Analysis Dash (DASH) Technical Analysis – April 2018

This topic contains 1 reply, has 2 voices, and was last updated by margincall margincall 1 year ago.

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  • #17189
    CheesePuff
    CheesePuff
    Moderator

    This is the thread for analysis on the Dash markets for the month of April 2018.

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  • #17606
    margincall
    margincall
    Keymaster

    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.

    dashusd forecast 27 April 2018

    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.

    dashbtc forecast 26 April 2018

    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.

     

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