fxs_header_sponsor_anchor

Dash technical analysis: DASH/USD bulls bounce back after charting morning star pattern

  • DASH/USD went up from $110 to $114.70 this Thursday.
  • Relative strength index (RSI) indicator has bounced up from the oversold zone and is trending around 39.06.

DASH/USD daily chart

DASH/USD went up from $110 to $114.70 this Thursday. The bulls stepped in and charted the morning star pattern, changing the market sentiment from bearish to bullish. The market is trending below the 50-day simple moving average (SMA 50), SMA 20 and SMA 200 Curves. 

Relative strength index (RSI) indicator has bounced up from the oversold zone and is trending around 39.06. The moving average convergence/divergence (MACD) indicator shows that the signal line is looking to crossover the MACD line, showing decreasing bearish momentum.

DASH/USD 4-hour chart

The 4-hour price chart is trending in an upwards channel formation and above the SMA 20 and SMA 50 curves. The price was about to go above the 20-day Bollinger band before the bears managed to correct it. The Elliot oscillator shows seven straight bullish sessions.

DASH/USD hourly chart

The hourly market has found support on the red Ichimoku cloud. The hourly price shows that the market bounced up from the support level at $111.75 this Thursday. The price spiked up to $115.60, where it met resistance and then fell. The market went up and tried to break past the resistance and failed once again, before settling around $114.70.

Key Levels


 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.