Ethereum, IOTA, Dash Price Analysis: 26 December
While Ethereum did move to the upside of the $615-zone, there was no breakout yet for ETH as $637 posed dogged resistance. On the contrary, IOTA traded within a range that extended from $0.288 to $0.32, while Dash showed it could be poised for a minor dip in the coming hours.
Some important levels of interest for ETH were highlighted on the charts. The resistance level at $637, the support level at $583, and the zone in the vicinity of $610 were likely to be the levels to watch out for in the coming days.
After a dip to test the $583-support level, ETH rebounded quickly and rose past the $610 pocket of liquidity. The strong bullish momentum behind it could see the flip of $637 from resistance to support level and would set up ETH for another move upwards.
A rejection at such a resistance level would see the price find support around the $620-zone, while a close beneath the highlighted area could see a move towards $583 once more.
The OBV showed significant buying volume over the past few weeks. Periods of selling that saw the price pullback saw the OBV decline slightly (orange), but the trend was in favor of the buyers.
IOTA found solid support at the $0.288-level over the past month, while $0.32 was a level that was hotly contested over the same time period. The mid-point at $0.3 saw the price waver about it and a move beneath or above it signaled that the aforementioned levels were about to be tested.
At the time of writing, the price was heading to test the $0.288-support. The RSI oscillated about the neutral 50 line over a few hours, barring a spike in price to the upside that was subsequently sold.
Under this level of support, another level of support lay at $0.265 for IOTA.
DASH dropped to $87.5 48 hours ago, but it had since recovered by 21% and was trading at $105.7, at the time of writing. The volatility of the past few days notwithstanding, it was a bullish development for the price to reclaim the psychological $100-level once more.
The price had also risen past the EMA Ribbons to denote short-term bullish momentum behind the coin. And yet, the Awesome Oscillator could indicate a bearish twin peak set up in the coming hours and should be monitored closely.
The formation of a red bar on the AO would signal an imminent price dip for DASH.