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The forming of higher lows was a positive sign for Dash’s potential direction, but losses were effectively limited at the $245.1 resistance level. On the 4-hour map, this culminated in the creation of an ascending triangle. If this pattern typically results in an upward breakout, bullish prompts from the wider market will be needed to force a jump beyond the upper trendline. The metrics were not in favour of a breakout and instead suggested short-term bearish conditions.
The Stochastic RSI edged closer to the oversold area, while the Signal line gained ground on the MACD line. If DASH is willing to reverse its down market and break north from the upper trendline, the upside is $278.1.
Tezos’ rebound was stopped at $4.48 resistance, and a descending channel built on the 4-hour timeline as the market formed lower highs and lower lows. As sellers pulled XTZ lower at different speeds, the OBV jumped in lockstep with the volume. The Awesome Oscillator indicated that the sale side was gaining traction. In the short term, support at $3.78 would be under scrutiny, and sellers would be able to provide some resistance at that stage.
Long-term traders may see any trading opportunities if the price falls all the way to $3.12 support, but the bears must first launch a move below $3.48.
The 38.2 percent Fibonacci mark, which was at $10.2, has been challenging for the Waves bulls to maintain. After the wider market pullback in late February, the aforementioned label has been exposed to selling pressure on two occasions. At the time of publishing, the price was threatening to fall below the $23.6 percent Fibonacci mark, which had been held by the bulls for over two weeks.
According to the Amazing Oscillator, the RSI pointed lower from the 40-mark, while the momentum on the sale side rose. The next line of defence was $8.38.