DASHUSD closes above its opening price after recovering from early selling pressure
Dash/US Dollar Index (DASHUSD) Technical Analysis Report for Sep 15, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, DASHUSD finished Saturday at 191.06 losing $0.02 (-0.01%) on low volume. Trading up to $4.19 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (DASHUSD as at Sep 15, 2018):
Saturday's trading range was $8.30 (4.35%), that's far below last trading month's daily average range of $21.69. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Prices are trading close to the key resistance level at 202.34. After having been unable to move lower than 185.73 in the prior session, DASH/USD found buyers again around the same price level today at 186.69. After spiking up to 194.99 during the day, the cryptocurrency found resistance at the 20-day moving average at 194.66.
Though Dash is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.
Buying could speed up should prices move above the nearby swing high at 202.21 where further buy stops might get triggered.
With six out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are ETHUSD gaining 6.08% and ETCUSD closing 3.28% higher. On the flipside the worst performer has been LTCUSD closing -0.21% lower. Looking at the other Minor Cryptocurrencies, the winners of the day have been ETHCNY surging 11.52% and KCSBTC closing 6.75% higher. The worst performers of the day have been ETHGBP tanking -8.43% and NANOBTC closing -5.24% lower. Read more