Dash (DASH), Stratis (STRAT) and Nem (XEM) have reached significant support areas that, historically, have been catalysts for upward movements.
All three were some of the biggest risers during the 2017 bull market. However, they have been slowly decreasing since — causing the cryptocurrency community to leave them behind and focus on other less-established cryptocurrencies.
Cryptocurrency trader @galaxyBTC stated that, instead of chasing pumps, investors should be focused on well-established coins that have yet to initiate new market cycles. This advice came after MATIC decreased by 70 percent in roughly one hour.
He noted that DASH, STRAT and XEM have fallen to levels not seen since 2016 — making them attractive investments from a risk/reward perspective. Let’s analyze the outlook of each of these coins individually and decide which is the better investment.$DASH, $STRAT and $XEM are currently sitting on prices not seen since 2016
— Galaxy (@galaxyBTC) December 9, 2019
The ones above are just an example, but accumulating coins which delivered and survived over the years seems a safer alternative to chasing pumps.
Altseason barely started and there is no reason to rush. pic.twitter.com/gGv42uWPZg
DASH (DASH)
The DASH price has almost fallen to the support area of ₿0.006. This area was the catalyst for both the upward movement of 2015 and 2016. However, the price has fallen below two minor support areas at ₿0.008 and 0.01 and will likely face resistance from them on the way up. An interesting development comes from the weekly RSI. It is both oversold and has generated strong bullish divergence. Neither of these things has previously happened by itself, let alone combined. This suggests that the market has reached, or will soon reach, a low and begin to move upward.
NEM (XEM)
NEM (XEM) already reached the major support area at 400 satoshis in August. This area acted as temporary resistance in May 2016 before the price broke out. Afterward, the price validated it as support at the beginning of 2017 and began the yearlong upward trend. The closest resistance area is at 800 satoshis, allowing for more movement — even if the price continues trading in a range. Similar to DASH, the weekly RSI is at an oversold level for the first time in history. Additionally, there is some bullish divergence developing.

Stratis (STRAT)
Stratis has fallen to its 2016 lows at 3400 satoshis. This support area acted as a catalyst for the 2017 upward move. Similar to both DASH and XEM, the weekly RSI is oversold and has generated a bullish divergence. Therefore, the long-term outlook suggests that all three coins are very close to the bottom.

Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for...
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for...
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