The Dash cryptocurrency price is still in wave 4, which may turn out to be an irregular ABC correction. In this correction, wave B has already been made (with a high at $ 1.253) and now the price would be in the last phase of the downward cycle, the C wave. Confirmation of this scenario will come with the breaking of the trend line (golden bottom line) and a testing the levels $ 936 and later $ 856 and finally $ 775. This is why red arrows is the preffered scenario.
The lack of the above wave development will be synonymous with the further development of another wave of correction, i.e. the wave triangle 4.
Main trend: UP
Intermediate trend: UP
Daily trend: UP / NEUTRAL (continuation of the correction)
Key levels:
- for further increases - the level of $ 1.253 and later $ 1.338
- for continuation of the correction - level of $ 1,253 (resistance) and $ 936 (support)
- for the continuation of declines - the level of $ 936 and later $ 856 and $ 775
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Order storniert
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The chances for a downside breakout has increased recently and if the level of 936 is broken, then the impulsive wave to the downside will develop. The first target is at the level of 775 and the final target would be at the level of 559.
Trade geschlossen: Ziel wurde erreicht
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Dash is going by the book - five impulsive wave decline might have been completed at around 610. If not, there should be only one small wave to the upside and a bounce higher.
Trade ist aktiv
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The golden trend line is the key to the further upward movement.
Kommentar
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After a long and time-saving downturn, DASH broke through the trend line and made a new peak at $ 725. Next goal: $ 830