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27 February 2020

Top-5 Crypto Performers: XMR, EOS, BCH, BTC, DASH

Top-5 Crypto Performers: XMR, EOS, BCH, BTC, DASH

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Contrary to our assumption, if the price fails to sustain above the wedge, bears will again try to break down below it.

The 20-week EMA is sloping down gradually and the RSI is in the negative zone, which suggests that bears have the upper hand.

Though this level has been tested thrice since early March of this year, the bears have not been able to break below it.

The town has several outlets that support digital currency payments, which shows increased crypto adoption.

This shows that bulls are defending this support level.

However, unless they propel the price above the right shoulder at $360, we anticipate bears to again attempt a break below the neckline.

A breakout of this level will invalidate the bearish pattern, which is a bullish sign.

This shows accumulation by bulls when the pair dips to the strong support of $9,080.

Such a move will dampen sentiment and can result in a fall to the $7,451.63–$7,337.78 support zone.

A breakdown of this zone will reduce the probability of a new high in 2019. .

This move will add over 1,000 additional merchants who accept Dash and integrate over 250 additional ATMs.

In the last week of August, the DASH/USD pair dipped below the 78.6% Fibonacci retracement level of the rally, which is a bearish sign.

Usually, this is followed by a complete 100% retracement, which in this case will be a fall to $58.49.

Currently, bulls are attempting a pullback, which will face resistance at the previous support turned resistance of $95.4264

Above this level, the next resistance will be at the downsloping moving averages

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