DASHUSD closes above its opening price after recovering from early selling pressure

Dash/USD Index (DASHUSD) Technical Analysis Report for Sep 15, 2018

Highlights

DASHUSD closes above its opening price after recovering from early selling pressure
DASHUSD fails to close above 20-day moving average
DASHUSD closes lower for the 2nd day in a row
DASHUSD finds buyers again around 186.69
DASHUSD closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

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 chart for DASHUSD

Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

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.

Order Flow

Buying could speed up should prices move above the nearby swing high at 202.21 where further buy stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.

Market Conditions for Dash/USD Index

Condition Forecast Direction Win Rate Exit Day Events
Closed below last periods low TQ Pro Members Only
Bearish Outside Bar TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
Bullish Bounce off SMA 50 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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