FxWirePro: DASH/ USDT faces strong support at USDT8, good to sell on rallies
The pair has shown a slight recovery till 38.2% retracement of USDT10.54 and USDT8.20 levels (Poloniex). It is currently trading around USDT8.892 at the time of writing. Ichimoku analysis (Daily chart): Tenkan-Sen level:…
The pair has shown a slight recovery till 38.2% retracement of USDT10.54 and USDT8.20 levels (Poloniex). It is currently trading around USDT8.892 at the time of writing.
Ichimoku analysis (Daily chart):
Tenkan-Sen level: USDT9.03
Kijun-Sen level: USDT9.27
Trend reversal level - (100 day MA) – USDT11.04
Long-term trend remains to be bearish. DASHUSDT is facing minor resistance at USD9.10 (38.2% retracement of USDT10.54 and USDT8.20) and any break above will take the pair till USDT9.25/USDT9.65.
Major resistance is around USDT9.10 and any break above targets USDT9.24 (21- day MA)/USDT9.65 (200- day EMA). Short term support is seen at USDT8 (Oct 29th low) and any break below targets USDT6.70 (7th Jul low).
The $0.131 mark was the late-September high; a revisit would depend on Bitcoin (BTC) strengthening and crypto-market sentiment improving. No timeframe was given.
