DASH Decreases to Test $31 Support Level

Sellers’ momentum is high in the DASH market

DASH Price Analysis – 14 November

More pressure from the sellers will decrease the price to the $29 level and may penetrate the level, moving the coin toward $28 level. In case the bulls defend the support level of $31, DASH may incline and face the resistance level of $35, which may increase to $37 and $39.

DASH/USD Market

Key Levels:

Resistance levels: $35, $37, $39

Support levels: $31, $29, $28

DASH/USD Long-term Trend: Bearish

DASH is on the bearish movement in the long-term outlook. Bulls initially pushed the coin to break up from the long-time-ranging movement on 04 November and the resistance level of $45 was tested. Bears were able to oppose the Bulls at the just mentioned level with the formation of the strong bearish daily candle which engulf the previous candle. The price tested the support level of $31.

The 9-periods EMA has crossed the 21-period EMA downside while the coin is trading below the two EMAs which indicates a bearish movement in the DASH market. More pressure from the sellers will decrease the price to $29 level and may penetrate the level, moving the coin toward $28 level. In case the bulls defend the support level of $31, the price may incline and face the resistance level of $35, which may increase to $37 and $39.

DASH/USD Medium-term Trend: Bearish

DASH/USD is bearish on the 4-hour chart. The resistance level of $48 holds the price when the bulls could not acquire enough pressure to break it up. Bears prevailed over the bulls and the price is decreasing currently, trying to penetrate $31 support level.

DASH is trading below the 9 periods EMA and 21 periods EMA which indicate a bearish market. However, the Relative Strength Index period 14 with its signal line pointing up at 42 connotes a buy signal.

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