DASH (DASH/USD) Analysis October 5, 2017
DASH rallied a bit during the day on Wednesday, reaching towards the $320 level. That’s an area that had previously been supportive, and should now be resistive. I think if we can break above that level, the market should continue to go much higher, and perhaps reach towards the $350 level. I believe that the market rolling over is possible, but it seems like the buyers are willing to get involved and therefore I think it’s only a matter of time before these dips offer value the people are willing to take advantage of. Longer-term, I believe that the $290 level is the bottom of a massive band of support that started at the $300 level. A break above there is a good sign, and now I think that the markets are ready to start trying to build a base.
Momentum is needed
Once we get enough momentum, I believe that the market will reach towards the $350 level, and of course beyond. I have a longer-term target of $400, but it’s going to take some time to get there. DASH is a currency that tends to move rather slowly, but eventually will have sudden bursts of impulsive the. I think that’s what we’re waiting on. The recent rally over the last 24 hour should show signal that the buyers are ready to get aggressive, so I’m willing to start buying rather quickly. I think that given enough time, you will be able to build up a large position in the small incremental bits and pieces required to build up a large position without exposing yourself to massive volatility and serious danger. I have no interest in selling, least not anytime soon.
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