Dash Price Analysis: 31 October
Dash too were likely to register a downtrend, despite the cryptocurrencies recording some daily gains, as technical indicators suggested a trend reversal to bearish in the short-term period.
(https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2020/10/31174708/DASH-13.png)
At the time of writing, early signs of a bearish trend for DASH were picked up by its Directional Movement Index.
The -DMI (orange) was starting to rise towards the +DMI (blue) which had already turned south. Further, the ADX (pink) was also showing weakness in the existing upward price trend.
The digital asset also faced stiff resistance below the 50% retracement region marked by the Fibonacci retracement tool, which pushed down the prices for DASH towards the $68.004 support level at press time.
Despite the 1.5% gains since yesterday, a selling sentiment was identified from the digital asset’s technical indicators for the short to medium term period.
Learn more about the news here (https://eng.ambcrypto.com/binance-coin-cosmos-dash-price-analysis-31-october/)