DASHUSD closes above its opening price after recovering from early selling pressure
Dash/USD Index (DASHUSD) Technical Analysis Report for Sep 15, 2018
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.
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.
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||Direction||Win Rate||Win Rate||Exit Day||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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