Technical Analysis

Dash Is Looking For The Final Leg DownSep 8, 2023

Dash is looking for the final leg down, as we see it finishing a bearish triangle pattern by Elliott wave theory.

Cryptocurrency Dash with ticker DSHUSD is one of the weakest coins, which is now finally breaking lower to a new low of the year as expected, but ideally that’s now the fifth wave of a five wave drop from 80.00 area. So, there can be some price stabilization still this year, probably around 18-20 area, once a five-wave cycle of the lower degree fully unfolds when looking at the 4-hour chart.

Dash Is Looking For The Final Leg Down DSHUSD 4H Chart
DSHUSD 4H Chart

Currently on the intraday hourly chart, we can see it trading in subwave (4) correction that can be a triangle or flat pattern, so be aware of a retest the lows for wave (5). A rise above 30 will suggest that either low is already in place or it’s going to face more larger and more complex correction.

Dash Is Looking For The Final Leg Down DSHUSD 1H Chart
DSHUSD 1H Chart

Become a member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Register here 1st month only 20€. Offer expires in 2 days

BTC Longs/Shorts Ratio Chart Shows Crypto Support. Check our free chart HERE.

DISCLAIMER

Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close