Bitcoin (BTC)

$ 6477.6279577

Bitcoin Cash (BCH)

$ 0.4567692991

Ethereum (ETH)

$ 205.158198538

Ripple (XRP)

$ 442.368972305

HOT NEWS
Bitcoin Costs Stabilize Above $6K – But Will They Keep? Jim Chanos Is Out of His Depth Trashing Crypto Assets There&#039s A New Bitcoin Core in Town – And It&#039s Out to Troll Bitcoin Money Enjoy Decentralized Art at Satoshi’s Place Bitcoin and Manga Collide in Shonen Crypto Switzerland Rejects Pro-Crypto Sovereign Money Initiative Coinbase Announces Intended Support for Ethereum Classic
Homepage / News November 30, 2017 139 views

Down, Not Out? Dash Price tag Likely to Defend $600

Down, Not Out? Dash Cost Likely to Defend $600

Dash is shedding gains at press time, but appears set to defend $600 levels.

As per CoinMarketCap, the world’s fifth largest cryptocurrency by market place capitalization is trading at roughly $685 – down 9.3 percent on the day – right after rising to an all-time higher of $826.95 at 09:59 UTC.

Also notable is that trading volumes have hit a record higher of $four.84 billion, suggesting the rally may well be right here to stay.

A look at the individual markets shows that the rally is becoming fueled by Korean desks. Trading volume in DASH/KRW pair offered by Bithumb, one of the biggest exchanges in South Korea, has gone up 30 % in the final 24 hours.

A single purpose may be the asset’s positioning in the news, with groups associated with the protocol announcing earlier this week they would&nbsppartner&nbspto assist resolve Zimbabwe’s economic crisis.

But what ever the cause, value chart evaluation also favors further upside, albeit right after a healthier technical correction to $600 levels.

4-hour chart

The above chart shows:

  • A bearish value-relative strength index (RSI) divergence.
  • 50-MA, one hundred-MA, and 200-MA are sloping upwards and positioned a single beneath the other in favor of the bulls.
  • The rising trendline (blue line) could supply support at $583 levels.

Day-to-day chart

On the chart above:

  • 5-MA and 10-MA are curled upwards in favor of the bulls.
  • The RSI is overbought.
  • Two consecutive candles with larger shadows (massive gap among the close and intra-day high) indicate bull marketplace exhaustion.
  • Costs are struggling to hold gains above $696 (161.eight% Fib extension).

View

Dash could drop to $600-$580 levels, courtesy of the bull marketplace exhaustion on the day-to-day chart and the bearish cost RSI divergence on the four-hour chart.

The base seems to have shifted greater to $600 levels – i.e. dips beneath $600-$580 could be brief-lived as indicated by a pattern of larger lows (increasing trend line on the 4-hour chart) and upward sloping moving averages.

Trampoline image by means of Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic requirements and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Speak to us at news@coindesk.com.

Disclaimer: This post ought to not be taken as, and is not intended to offer, investment suggestions. Please conduct your own thorough analysis prior to investing in any cryptocurrency.

Published at Thu, 30 Nov 2017 15:45:21 +0000

Tags