DASH Update January 22: Continued Breakdown or Bounce?
The price of DASH broke through support at $67.69 and printed **new lower low at $67.36**, before slightly rising to ~$67.63. Has selling capped or is this a pause before a deeper drop?
🧠 Technical Facts:
➡️Trigger for Down: Break consecutive support + liquidation of LONG ($93.1K) vs SHORT ($3.3K) – seller dominance.
➡️Structure: Still Lower High ($79.69)** & **Lower Low ($67.36) – solid bearish pattern.
➡️Momentum: RSI 1H (38.86) vs RSI 4H (38.68) – weak across all TF, not yet extremely oversold.
➡️Derivatives: Long/Short Ratio 0.9997 – buyers are almost gone.
🎯 Crucial Levels:
🔺Resistance (Sell Zone): $68.50 → $69.11 (EMA20)
🔻Support (Target): $67.14 → $66.00 → $64.50
⚡**Invalidation:** Break & hold > $70.50 (change bearish bias)
💡 Simple Strategy:
1️⃣**DO NOT BUY at $67.63.** This is a dead cat bounce.
2️⃣**WAIT** for the price to rise to the zone of $68.50-$69.11.
3️⃣**CONFIRMATION:** Look for rejection (red candle, increased volume) in that zone for **SHORT**.
4️⃣**Target:** Back to test $67.14 → $66.00.
⏳ Timeline: Small bounce may continue for 4-8 hours. Reaction at $69.11 will determine the direction for the next day.
✅ Takeaway: The trend is still strongly BEARISH. Small bounces are selling opportunities, not buy signals. Be patient & wait for setups at resistance.
#DASH #DashCoin #trading
#DASHUSDT #bearish #Breakdown 👉 Current condition: NO TRADE. Wait for bounce to sell at $68.50-$69.11.