- DASH bounces and falls from long term resistance.
- New lows on the horizon again.
DASH, the cryptocurrency with market capitalisation of more than two billion dollars, rallied above $300 and then lost more than 21 percent from the highs made on Friday in a sign that it was a dead cat bounce in the last couple of days and perhaps recent lows are at risk of breaking down.
DASH/USD is up more than 2 percent on day at $248.51 after falling to as low as $237.47. On the daily charts DASH prices, after rising all the way to $309, fell back sharply, exactly from the descending trendline that the bulls have not been able to cross in the last few months.
A close below $241 would be the first sign of Dash’s downtrend remaining intact and any rallies would be shortlived.
DASH/USD daily chart: