Based on the DASH/USDT chart on Binance with a 15-minute timeframe, here are some technical analyses:
Main signals:
Short-term trend: Bearish
Current price: 22.17 USDT, down 1.07% from before.
The price is below the EMA(25) (22.50) and EMA(99) (22.56), indicating that selling pressure is prevailing.
The EMA(7) (22.31) is also lower than EMA(25) and EMA(99), confirming the downtrend.
Support and resistance:
Resistance: 22.50 - 22.84 USDT
Support: 22.10 USDT (24h low) and further at 21.55 USDT.
Trading volume:
Volume is decreasing in the downtrend, which could lead to a potential bounce from the support area or continue to drop deeper.
OBV (On-Balance Volume):
OBV is trending down (-56,065.55), indicating that the cash flow has not yet supported the uptrend.
Enter Long or Short?
Short if the price breaks 22.10 USDT with high volume, targeting 21.55 USDT or lower.
Long if the price bounces from the 22.10 USDT area with a clear reversal signal like a strong bullish candle accompanied by high volume.
Trading strategy:
If you want to be safe: Wait for confirmation of the signal before entering.
If you want to trade quickly: Need a tight stop-loss, especially if the price comes back to test resistance.
Do you want to analyze a larger timeframe for a broader overview?