DASHUSD surges, gaining $10.58 (12.81%) within a single day on high volume


Dash/US Dollar Index (DASHUSD) Technical Analysis Report for Aug 01, 2020 | by Techniquant Editorial Team

Highlights

DASHUSD soars, gaining $10.58 (12.81%) within a single day on high volume
DASHUSD rises to highest close since March 6th
DASHUSD dominated by bulls lifting the market higher throughout the day
DASHUSD closes higher for the 2nd day in a row
DASHUSD pushes through Friday's high

Overview

Moving higher for the 2nd day in a row, DASHUSD finished Saturday at 93.15 surging $10.58 (12.81%) on high volume. This is the biggest single-day gain in over four months. Today's close at 93.15 marks the highest recorded closing price since March 6th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 83.63, Dash confirmed its breakout through the prior session high after trading up to $10.65 above it intraday.

Daily Candlestick Chart (DASHUSD as at Aug 01, 2020):

Daily technical analysis candlestick chart for Dash/US Dollar Index (DASHUSD) as at Aug 01, 2020

Saturday's trading range has been $12.36 (14.97%), that's far above the last trading month's daily average range of $3.46. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for DASHUSD.

One bullish candlestick pattern matches today's price action, the White Candle. The last time a White Candle showed up on July 25th, DASHUSD gained 0.87% on the following trading day.

With another close above the upper Bollinger Band, prices are confirming their strong upward momentum in the short-term. A drop back into the Bollinger Band on the next trading day while could signal a potential change in momentum that might lead to a correction back down towards the center of the Bollinger Bands at 74.94.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Among the nine market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Closed above last periods high" stand out. Though it is usually interpreted as bullish, it has actually shown to be bearish for DASH/USD. Out of 370 times, DASHUSD closed lower 57.30% of the time on the next trading day after the market condition occurred.

With seven out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are XRPUSD gaining 12.04% and ETHUSD closing 11.71% higher. None of the markets ended the day in the red. Looking at the other Minor Cryptocurrencies, the winners of the day have been ZECUSD surging 19.59% and DOGEUSD closing 15.6% higher. The worst performers of the day have been STRATBTC tanking -4.08% and ARDRBTC closing -4.0% lower. Read more


Market Conditions for DASHUSD as at Aug 01, 2020

Loading Market Conditions for DASHUSD (Dash/US Dollar Index)...
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