Trade Recommendation: Dash

The price bounces from 260.00 support level. RSI confirms price reversal in the oversold zone. MACD histogram supports upward movement. Bullish divergence gives a trend reversal signal. It’s buy opportunity. But for confirmation that the market is going to move upward, it’s better to wait for a breakout above the resistance zone. This zone is formed by the downtrend line, SMA100 and 280.00 resistance level. If price moves above this zone, we’ll have an additional confirmation of a new uptrend. Pending orders for buy should be placed at 284.00 level with stop orders below the local swing low at 241.50 level. Profit targets are 320.00 and 360.00 levels. If you don’t use leverage, recommended trading volume for this trade is up to 10% from your deposit.

Buy: 284.00
Stop: 241.50
Profit Targets: 320.00 and 360.00

The trading signal is based on Poloniex chart.

Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.