It May Decrease to $32 Support Level

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Sellers are exerting more pressure in DASH market

DASH Price Analysis – October 13

More pressure from the sellers will send the price low towards $32 level and below it is a barrier at $27 support level. Should the bulls increase their momentum and oppose the sellers to push DASH above the resistance level of $42, then, $45 and $48 levels may be tested.

DASH/USD Market

Key Levels:

Resistance levels: $42, $45, $48

Support levels: $39, $32, $27

 

DASH/USD Long-term Trend: Bearish

DASH is bearish in the long-term outlook. The coin has been trading within the resistance level of $42 and the support level of $39 for more than three weeks. Today, sellers gain more pressure and a daily strong bearish candle formed which penetrate the Support level of $39 downside. The coin is already expose to the $32 support level. Further bearish movement is possible and $32 level may be tested.

The price is trading below the 9 periods EMA and the 21 periods EMA while the former is below the latter. At the moment, the price is broken down the two EMAs which indicates a bearish movement in the DASH market. More pressure from the sellers will send the price low towards $32 level and below it is a barrier at $27 support level. Should the bulls increase their momentum and oppose the sellers to push the price above the resistance level of $42, then, $45 and $48 levels may be tested.

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DASH/USD Medium-term Trend: Bearish

DASH/USD is bearish on the 4-hour chart. Last week, the currency pair was range-bound within the resistance level of $42 and support level of $39. The bulls were unable to defend the support level of $39. The coin decreases with an increase in the sellers’ pressure.

DASH is trading below the 9 periods EMA and 21 periods EMA which indicates bearish momentum and that the bears are dominating the market. The Relative Strength Index period 14 with its signal line pointing down at 36 levels connotes a sell signal.

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