COIN UPDATE

FULL Altcoin Update: DASH (Digital Cash)

Below the 200EMA

Most of the other major Altcoins' chart also look like DASH's at the moment — below their respective 200EMAs.

In addition, you will see that a golden cross happened to this coin last month (as indicated in the chart) but, it's not "flying" as a lot of people were expecting.  Well, if you're a newbie trader, then this will definitely be a learning opportunity for you:  that not all indicators are 100% reliable.  In fact, no indicator or other types of tools or analysis is 100% reliable — simply put, nobody holds the crystal ball in trading.  In addition, there's a reason why they say "Price action is King".

It's been over 4 weeks now since our last update of this coin — DASH was the first Altcoin we reviewed when we decided to go full with the Altcoin Update series in this public channel.

That time, the "Golden Cross" was unfolding — the bias was more upside in the coming days, but DASH pulled back instead and bounced off $217 (as previously identified), got rejected at $268.7, forming what now looks like a "Double Top".  It tried to hold on to the EMAs' support and the static at $181 to $190 but failed — it has found a good bounce at $154 (for now), but it's not looking good.

Areas of possible support:

$154

$101.4 to $114.3

Areas of possible resistance:

$181 to $190

$217.3

$245.3

$268.7 to $285.1

Scenarios?  Right now, the momentum downward is still strong, and although DASH might try to break $181 to $190 or the EMAs in the following days, the bias is that it would fail.  We will then see if the $154 minor support would hold (if it does, that will be a lower high which is good long-term) — if it does not, a revisit to $101.4 to $114.3 is very likely (these are the lows from June and July 2021).