Monfex_UK

**Possible scenario for Dash**

KRAKEN:DASHUSD   DASH / USD
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After the failed attempt to shoot up above 21 Daily EMA , Dash has joined the market trend and lost 7.40% over the last 24 hours.

* Dash has made a tremendous attempt to move beyond 21 EMA on the Daily chart , jumping from $68 to $93 with a blink of an eye.
* Unfortunately, this attempt went down the drain and Dash has simply left the lengthy wick on a Daily candle, duplicating the similar candle of 26Sep'19 - of a month ago.
* In its subsequent free-fall, Dash has touched 62 USD, while its market cap was bouncing around significantly during the single day.
* From now on, we expect the price to prolong its down motion to the lower band of the descending trend channel.
* The recovery might not be as fast as one would wish it to be, but the bullish divergence will eventually force the price up off the lower band: sooner or later.
* For the time being, we are waiting for a further decline to $55 - $57 level, where we would consider buying again.

Mid-term trade signal

Buy @ $55 - $57.
Target: $80.
Stop-loss: $51.

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GOOD LUCK AND LOTS OF PROFITS !!

Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.

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