Dash cryptocurrency can be expected to fall further toward the next support level 55.00 (which stopped the previous corrective wave (ii)).
- Dash reversed from resistance zone
- Likely to fall to support level 55.00
Dash cryptocurrency continues to fall after the earlier downward reversal from the resistance zone between the key resistance level 72.90 (which stopped the previous sharp upward impulse wave 1 at the start of September, as can be seen from the Dash chart below) and the upper daily Bollinger Band. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Dark Cloud Cover, which stopped the earlier short-term impulse wave iii – that belongs to the higher order impulse wave 3 from last month.
Given the strength of the resistance level 72.90 and the overbought daily Stochastic, Dash cryptocurrency can be expected to fall further toward the next support level 55.00 (which stopped the previous corrective wave (ii)).