Technical Analysis

Dash Remains BearishFeb 6, 2024

Dash Remains Bearish, as we see a corrective structure within downtrend from Elliott wave perspective.

Dash remains bearish when looking at higher time frames, especially the daily chart where price came out of a downward channel, so it looks like wave four is completed and wave five is underway, ideally towards $20 where big bear market can come to an end, so ideally price will stabilize this year. Only a break back above 39.03 would be major trend changer.

Dash Remains Bearish DSHUSD Daily Chart
DSHUSD Daily Chart

So, for now we have to respect the weakness and we should be aware of more sell-offs after recent five-wave drop and current A-B-C corrective rally on 4h time frame. Resistance is at 31.50-32.

Dash Remains Bearish DSHUSD 4H Chart
DSHUSD 4H Chart

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