$DASH retrocedes 3.54% and tests its key support on September 19
DASH retreats 3.54% on the day and trades near USD $58.76, after an extraordinary month of gains of 74.84%. The move combines profit-taking, a bearish turn in the MACD, and a rotation within the privacy-coin sector.
First, profit-taking is the most plausible explanation and is partly confirmed: after a 74.84% advance over 30 days and a 19.50% pullback already recorded in 14 days, the asset shows the typical pattern of an extension that is running out.
DASH maintains its purpose as a payments network with a historical focus on fast transactions and optional privacy through its masternode system, which requires token participation and creates an offer-absorption mechanism. Its market capitalization of $754.1 million places it as a mid-cap asset within the privacy sub-sector, where it competes with ZCash and Monero.
Recommendation: HOLD (AGUANTAR), with a cautious bias on any new immediate buys. The applied methodology weighs five technical signals and two flow signals: (1) the MACD is bearish with a histogram of -0.665, against; (2) the price lost the intraday VWAP and the $59.25 Fibonacci pivot, against; (3) the RSI of 58.1 remains neutral-to-bullish, in favor; (4) the price keeps room above the 7, 15, 30, 50, and 200-day SMAs, in favor; (5) the 90-day bullish Fibonacci trend, in favor. In flows, today’s volume is 10% below the 30-day average, indicating a lower-conviction downside correction (a slight point in favor of the hold thesis), but the 3.54% drop following a 74.84% monthly rally justifies not averaging down out of anxiety.
Short term: wait for confirmation with a daily close above $61.49 to buy, with a stop-loss below $57.50 and staged profit-taking between $64.71 and $67.00. Don’t chase the price within the current range.
DASH is going through a predictable technical correction within a solid underlying trend.
DASH retreats 3.54% on the day and trades near USD $58.76, after an extraordinary month of gains of 74.84%. The move combines profit-taking, a bearish turn in the MACD, and a rotation within the privacy-coin sector.
First, profit-taking is the most plausible explanation and is partly confirmed: after a 74.84% advance over 30 days and a 19.50% pullback already recorded in 14 days, the asset shows the typical pattern of an extension that is running out.
DASH maintains its purpose as a payments network with a historical focus on fast transactions and optional privacy through its masternode system, which requires token participation and creates an offer-absorption mechanism. Its market capitalization of $754.1 million places it as a mid-cap asset within the privacy sub-sector, where it competes with ZCash and Monero.
Recommendation: HOLD (AGUANTAR), with a cautious bias on any new immediate buys. The applied methodology weighs five technical signals and two flow signals: (1) the MACD is bearish with a histogram of -0.665, against; (2) the price lost the intraday VWAP and the $59.25 Fibonacci pivot, against; (3) the RSI of 58.1 remains neutral-to-bullish, in favor; (4) the price keeps room above the 7, 15, 30, 50, and 200-day SMAs, in favor; (5) the 90-day bullish Fibonacci trend, in favor. In flows, today’s volume is 10% below the 30-day average, indicating a lower-conviction downside correction (a slight point in favor of the hold thesis), but the 3.54% drop following a 74.84% monthly rally justifies not averaging down out of anxiety.
Short term: wait for confirmation with a daily close above $61.49 to buy, with a stop-loss below $57.50 and staged profit-taking between $64.71 and $67.00. Don’t chase the price within the current range.
DASH is going through a predictable technical correction within a solid underlying trend.
