DASH Technical Analysis: Sellers At 50-Day SMA Revert Bullish Trend

DASH price action shows a bearish reversal from the 50-day SMA after breaking the resistance trendline. Is this a retest or a bullish failure? DASH shows a bearish reversal from the 50-day SMA, resulting in a 1.75% price dump with a higher price rejection candle. Moreover, the increased selling pressure warns of a downtrend continuation to the $43 mark. So, should you expect a bullish reversal after retest, or is this reversal breaking under $43? Key Points: The coin price trend reverses from the 50-day SMA. The pin bar candle in the daily chart accounts for a 1.75% price drop. The intraday trading volume in DASH is $61.31 million. Source – TradingView DASH Technical Analysis The DASH price shows a resistance trendline breakout rally reversing from the 50-day SMA, with the pin bar candle accounting for a 1.75% jump. The bearish candle undermines the previous bullish candle of a 1.84% jump and breaks under the 20-day SMA. The lack of volume supporting the bearish candle keeps the bullish hope alive and opposes the price action analysis. Nonetheless, if the DASH prices sustain below the 20-day SMA at $47, a downtrend to the $43 support level seems inevitable. Moreover, an increase in selling pressure at $43 can result in a dump to the psychological mark of $40. On a bullish note, an uptrend continuation breaking above the 50-day SMA will generate a buying opportunity for sideline traders. Moreover, the uptrend can reach the over...