DASHUSDT | Impending Breakout | Apex | Symmetrical Triangle
Todays Analysis – DASHUSDT – Consolidating in a symmetrical triangle, nearing its apex where a breakout is probable.
Points to consider:
Multi-confluence resistance cluster
Support and resistance converging (Apex)
Declining volume
RSI showing weakness
DASHUSDT has been in a multi-week no trend scenario, trading within a contracting range where resistance is being held by the 200 EMA and .5 Fibonacci retracement.
Volume has also been on a steady decline, indication of an influx being imminent, possibly coinciding with the breakout.
RSI is also below 50 showing weakness in the market.
Overall, in my opinion, a break in either direction is impending. The break needs to be backed with increasing volume to solidify legitimacy and avoid any fake outs.
Points to consider:
Multi-confluence resistance cluster
Support and resistance converging (Apex)
Declining volume
RSI showing weakness
DASHUSDT has been in a multi-week no trend scenario, trading within a contracting range where resistance is being held by the 200 EMA and .5 Fibonacci retracement.
Volume has also been on a steady decline, indication of an influx being imminent, possibly coinciding with the breakout.
RSI is also below 50 showing weakness in the market.
Overall, in my opinion, a break in either direction is impending. The break needs to be backed with increasing volume to solidify legitimacy and avoid any fake outs.