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DASHUSD trade ideas

DASH vs LTC, will DASH ever retain its former glory?Over the past few days, DASH and LTC breakouts have surprised quite a few as the price of BTC has slipped back and forth after trying to recover back to its recent all-time-high. However, in my opinion the long-term logarithmic trend is the more interesting trend to watch between these two veteran cryptocurrencies. Over the past few years, a descending channel has formed in favor of Litecoin in the DASH/LTC relationship (as represented by the blue lines). However, Dash has been looking to challenge this trend consistently for the past year. Now it looks as though a long-term wedge (pennant?) may have formed as well after a steep downtrend occurred for DASH at the beginning of 2021, and it now appears as though Dash might be attempting a break out over the next few weeks/months. Whether DASH will successfully break out however is anyone's guess. I should note as well that although the price of LTC and DASH are nearly identical today, DASH at one point was nearly 27 times the price of LTC (this is the logarithmic chart after all)! Hence it should be interesting to see if DASH is able to compete in any way near its former glory. In the meantime it looks to be an interesting pair to watch to see if either a breakout occurs anytime soon for DASH or if LTC might takeover in the long-term relationship. As always, this is solely my opinion and should not be considered in any way as financial advice. But please like or comment if you agree or or have any opinions, especially if you are a Dash or Litecoin aficionado.
POLONIEX:DASHUSD
by crypto_trends
3
DASH AnalysisGoodmorning Traders, A colleague asked me to look at Dash-USD I thought it might be nice to explain how I sometimes confirm a trade for either opening or closing. I know the chart looks busy, but in chronological order, Ill explain my steps. Marked by the symbols +/- or neutral - First look at the levels on Daily for support and resistance, potential stop area, and targets / neutral score - Look for candle formations and shapes > Double Top potentially forming - - MACD and DMI still have bullish indications + - RSI is not at an extremely nice level for strength, hence the rejection so far of the previous high. So be wary of the strength in the market for a hard push - - The last step was to have a larger timeline Fibonacci overlay, which confirms our levels both in support and resistance zones and for future potential targets Conclusion: wait for more clarity before opening a position, if you already in DASH monitor your position closely. Sometimes logic (double top) doesn't mean anything in crypto. Most often it does do> risk/reward ratio. Which is not positive atm. Wait and be patient, don't chase money. Let the trade come to your conditions, where to a certain degree you can control risk. Best of luck
KRAKEN:DASHUSD
by CryptoDonkie
2