As we can see sellers strive to take the price below normal, hence making way for a bearish resistance. Certainly, the significant part is the fact that Dash prices went below the 100 hourly simple moving average. From my point of view it can be an opportunity for a bearish market, and might inspire a bearish trend in the short term.
If the price set on bulled direction from the
current levels been taken, then the intermediate
Bollinger Band might serve as an
initial resistance. Any incoming gains could take the price towards 100 MA, which might as well act as a pivot area for more upsides as it is also in line with the broken channel support trend line. In fact, there is a great barrier for buyers forming around 0.0124BTC.
On the downside, 0.0120BTC might
continue to stall downsides in the near term. If eventually sellers manage to clear the stated level, Dash prices might as well decline. The Lower Bollinger
Band is also positioned around the
mentioned support area, moving
toward the importance of area.
Intraday Support Level – 0.0120BTC
Intraday Resistance Level – 0.0124BTC
Both, the hourly RSI and MACD are in
the bearish zone. The only worrying
sign for sellers is the that there is
a minor shift forming on the RSI.
Let us see whether sellers succeed to pierce 0.0120BTC or not moving ahead.
