Key Highlights
- DASH price has broken below the $100 critical support level
- The coin faces resistance at the $90 and $92 price levels
- The market forms a bearish pattern at the critical demand zone of $100
DASH Current Statistics
The current price: $92
Market Capitalization: $833,555,806
Trading Volume: $129,417,509
Major supply zones: $120, $140, $160
Major demand zones: $80, $60, $40
DASH Price Analysis August 17, 2019
The price of DASH had been trading below the $180 price level in May and June before the bear’s dominance. On June 25, the bulls reached a high of $180 price level but were subsequently resisted by the bears. The market fell to the $160 price level and consolidated for a while before the bears had the upper hand.
The market fell to its previous low at the $100 price level to form a bearish pennant. Today, the bears have broken the lower line of the bearish pennant and price is presently falling but facing resistance at the support of $92 demand zone. If the $92 demand zone is broken, the crypto’s price will find support at the $80 price level.
Chart Indicators Reading
The MACD line and the signal line are below the zero line, which indicates that the price of DASH is bearish. The price is likely to continue its fall. The bears also broke the lower line of the bearish pennant, which indicates that price is to maintain its downward fall. The crypto’s price is below the exponential moving average, which suggests that price may likely fall.
General Outlook for DASH
The price of DASH is likely to continue its fall after successfully breaking the pennant on August 14. The crypto’s price continues its fall up till the third day. On the downside, the bears are currently facing resistance at the $92 demand zone; if the bears break that level, the market may reach the low of $80 price level. Nevertheless, the bear’s dominance may continue if the market finds support the $80 demand zone.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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