DASHUSD on 21 Sep, 2017

Key Highlights

  • DASH continues to trend higher in the higher time frame charts with major resistance expected at 412.20
  • Price action broke above minor resistance at 330.00 on Monday signaling increasing bull momentum
  • At 362.00, chances of a break above immediate resistance at 412 is likely

TECHNICAL ANALYSIS

Beginning mid-September, price action reversed sharply from major support zone of 218-220 and has since continued to trend higher. It is indicative because at this zone a double bar reversal pattern was formed with price rejection at 220 which is also a region of support as shown by the 50-period moving average. A stochastic buy signal was also printed on 15.09.2017 and since then %k and %d have been diverging hinting sustained buying (refer to above image).

Any retest of minor support zones of 315 or 350 in the in the 1hr chart will represent a good buy opportunity. Stochastics are bullish in the same time frame with a buy signal in place.

DASHUSD, September 21, 2017
Figure 2: DASHUSD 1HR chart-21.09.2017

TECHNICAL INDICATORS

STOCHASTICS
Daily chart-Bullish
1hr chart-European session-Bullish

50 Period MA
Price is trending above 50 MA, so market is bullish

Contributed by Dalmas, a cryptoenthusiast and trader with a keen eye to market trends and analysis.
All charts courtesy of Trading View
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Gautham

Gautham has an eye for anything new. He has been part of multiple startups and his current project focuses towards the social good sector. An entrepreneur, engineer and enthusiast (bitcoin, of course), he has been moonlighting as a writer for multiple publications and currently writes at NewsBTC. Find him on twitter as @gautham_n and on facebook at /gautham.nm

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