DASHBTC falls to lowest close since February 27, 2017
Dash/Bitcoin Index (DASHBTC) Technical Analysis Report for Aug 11, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, DASHBTC ended Saturday at 0.02684 losing BTC0.00067 (-2.44%) on low volume. Today's closing price of 0.02684 marks the lowest close since February 27, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 0.02735, the cryptocurrency confirms its breakout through the previous session's low having traded BTC0.00052 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (DASHBTC as at Aug 11, 2018):
Saturday's trading range was BTC0.00062 (2.26%), that's far below last trading month's daily average range of BTC0.00145. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Prices are trading close to the key resistance level at 0.02766.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling might accelerate should prices move below the nearby swing low at 0.02644 where further sell stops could get triggered.
With seven out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are XRPUSD losing -8.28% and ETCUSD closing -7.72% lower. None of the markets managed to end the day in the green. Looking at the other Minor Cryptocurrencies, the winners of the day have been BTCCNY surging 5.28% and WAVESBTC closing 1.9% higher. The worst performers of the day have been ELFBTC tanking -13.38% and IOTBTC closing -11.22% lower. Read more