LTC is expected to be halved on Aug.2. The block reward will change from 12.5 LTC to 6.25 LTC. The halving of token does not necessarily bring the rising, but for tokens, the halving is a deflation way for tokens. This model makes sense. It is different from the inflation way for traditional currencies. Today we bring a brief analysis of LTC, DASH and BCH. It should be noted that the halving of LTC and BCH is coming soon and the halving of DASH has already happened.
Since March, DASH has entered a bearish channel. At the beginning of June, DASH was defined as a security by the SEC and the price dumped to a new low during two years. Then the price has rebounded, but is weaker than most tokens in the market. The long time rise only covered the single-day fall on Jun.10. The price stopped rising in early July and maintained bearish on a large scale. The volatility of DASH has decreased recently. The strength of the bulls has increased, but it is still weaker than the bears. After the long green candle appeared on Jul.13, the bears quickly strengthened. The consecutive days of falling did not cover the long green candle and broke the low. Although the bulls gained strength again last week, it did not cover the loss (red arrow).
Conclusion: Mostly fluctuation. The probability of falling is greater than that of rising. The bulls has strengthened. So we think there is a high probability of fluctuation. But DASH maintains bearish on a large scale, so we reserve the possibility of falling. We set resistance level at 38.5 and support level at 28.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Since March, DASH has entered a bearish channel. At the beginning of June, DASH was defined as a security by the SEC and the price dumped to a new low during two years. Then the price has rebounded, but is weaker than most tokens in the market. The long time rise only covered the single-day fall on Jun.10. The price stopped rising in early July and maintained bearish on a large scale. The volatility of DASH has decreased recently. The strength of the bulls has increased, but it is still weaker than the bears. After the long green candle appeared on Jul.13, the bears quickly strengthened. The consecutive days of falling did not cover the long green candle and broke the low. Although the bulls gained strength again last week, it did not cover the loss (red arrow).
Conclusion: Mostly fluctuation. The probability of falling is greater than that of rising. The bulls has strengthened. So we think there is a high probability of fluctuation. But DASH maintains bearish on a large scale, so we reserve the possibility of falling. We set resistance level at 38.5 and support level at 28.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
