The daily chart shows a clear downtrend within a defined bearish channel where the price has been forming lower highs and lower lows. After a false breakout above the channel resistance in late April, the price failed to hold above that breakout level and quickly dropped back into the channel — a classic bearish signal that confirms the ongoing downward pressure.
Read My Latest Analysis on LTC, XRP and BNB
At present, DASH is trading around $21.02 to $21.19, just below the upper trendline of the descending channel. This area has acted as a resistance zone, especially after the false breakout failed to gain momentum. The broader structure indicates that the bears are still in control.
Your short entry should ideally be placed between $21.00 and $21.20, just under the resistance line. The target for this trade would be the key support area at $17.86, and if the bearish momentum strengthens, the next level to watch is $15.00, which is a strong historical support and psychological round number.
A reasonable stop-loss for this trade would be $25.12, which is above the most recent high where the false breakout occurred. If price climbs back to that level, it would invalidate the bearish setup.
This trade setup offers a good risk-reward ratio — aiming for a potential drop of 15–28% while risking around 19%. The rejection after the breakout and return into the bearish channel suggests that sellers have regained control and that the price is likely to retest the support levels in the coming days or weeks.
Read My Latest Analysis on LTC, XRP and BNB
At present, DASH is trading around $21.02 to $21.19, just below the upper trendline of the descending channel. This area has acted as a resistance zone, especially after the false breakout failed to gain momentum. The broader structure indicates that the bears are still in control.
Your short entry should ideally be placed between $21.00 and $21.20, just under the resistance line. The target for this trade would be the key support area at $17.86, and if the bearish momentum strengthens, the next level to watch is $15.00, which is a strong historical support and psychological round number.
A reasonable stop-loss for this trade would be $25.12, which is above the most recent high where the false breakout occurred. If price climbs back to that level, it would invalidate the bearish setup.
This trade setup offers a good risk-reward ratio — aiming for a potential drop of 15–28% while risking around 19%. The rejection after the breakout and return into the bearish channel suggests that sellers have regained control and that the price is likely to retest the support levels in the coming days or weeks.
Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.