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Crypto Technicals: DASH/USD pivotal at 200-DMA support, breach will open up downside

Tue, 16 Jul 2019, 14:00 pm UTC

DASH/USD chart - Trading View

Exchange - Kraken

Support: 112.612 (200-DMA); Resistance: 129.210 (5-DMA)

Technical Analysis: Bias Bearish

DASH/USD is extending weakness for the 2nd straight week, bias strongly bearish.

Price action has approached strong support at 200-DMA, breach below will open up further downside for the pair.

Price action has slipped below 20W SMA and volatility is on the rise. MACD and ADX support further weakness.

That said, oscillators have approached oversold levels and price action is outside lower Bollinger band.

We could see some minor pullbacks in the pair. Breach below 200-DMA will see resumption of weakness.

5-DMA is immediate resistance at 129.20. Break above could see gains till 110-EMA at 139.50.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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