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FxWirePro: DASH/ USDT faces strong resistance at 50-day MA, good to buy on dips

DASH/ USDT  pair has made a high of USDT10.54 and started to decline from that level (Poloniex). It is currently trading around USDT9.84 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: USDT9.59

Kijun-Sen level: USDT9.87

Trend reversal level - (100 day MA) – USDT11.31

Long- term trend remains to be bearish. The pair is struggling to break above 50- day MA and any break above targets USDT11.31.

Major resistance is seen at USDT10.75 (50- day MA) and any break above targets USDT11.30 (100- day MA)/USDT 12.40. Short term support can be noticed at USDT9.44 (200 –day MA) and any break below targets  USDT8.64 (Nov 11th 2016 low) /USDT8 (Oct 29th 2016 low)/USDT6.70 (7th Jul low).

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