DASH Price Analysis – November 5
DASH/USD rides the bulls on the daily chart. The traders are expected to have a great week ahead.
Resistance levels: $80, $82, $84
Support levels: $68, $66, $64
If the DASH trading volume can continue to increase significantly, a bullish run is likely to occur. Following the recent price, Dash is currently facing a critical resistance at $75 level above the 9-day and 21-day MA at the upper boundary of the channel. A break above the ascending channel could produce a huge green candle to the upside, marking resistances at $80, $82, $84 levels and above. By then, the DASH/USD market will follow a bullish run.
However, a bearish step back is likely to roll the market back to $68 support with a possible break down to $66 and $64 supports, establishing a new monthly low for the market. Looking at the chart, we can see that the trading volume is rising slowly, giving a sign of an upcoming big move. The MACD signal lines are about to cross into the positive zone, reflecting a weakening momentum in the market.
A few days ago, the DASH/BTC market has experienced a significant fall in prices, with a strong rejection of the price at 0.0078 BTC, which reduced the coin to a 0.0077 BTC. On the positive side, DASH faces resistance of 0.0082 BTC. Above this is the main resistance at 0.0084 BTC.
Moreover, if the price falls below the lower side of the symmetric triangle, we can expect a downward pressure below the channel and the support levels to watch are 0.0074 BTC and 0.0072 BTC respectively. However, the stochastic RSI is about to cross above level 80, which may give some bullish signals.
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