Dash Price Technical Analysis – DASH/USD Supported Above $150

Key Highlights

  • Dash price traded lower from the $200 swing high against the US Dollar, but found support at $150.
  • There is an important bullish trend line with support at $150-155 forming on the hourly chart of DASH/USD (data feed from Poloniex).
  • The pair may extend the current recovery and traded towards $170-180.

Dash price (DigitalCash) recent decline was well supported against the US Dollar and Bitcoin. DASH/USD remains buy on dips near $155-150.

Dash Price Crucial Support

There were solid gains in Dash price as it moved above the $180 resistance against the US Dollar. It tested the all-important $200 level where it faced sellers and moved down sharply. The downside move was sharp and the price fell by more than $50. It attempted a break and close below the $150 support and the 100 hourly simple moving average. However, buyers succeeded in defending the $150 support.

An important bullish trend line with support at $150-155 on the hourly chart of DASH/USD prevented losses. The price is recovering at the moment, and trading above the 23.6% Fib retracement level of the last decline from the $200 high to $147 low. The best part is a close above the $160 resistance and the 100 hourly simple moving average. Buyers now need to break the 50% Fib retracement level of the last decline from the $200 high to $147 low at $173.

Dash Price Technical Analysis

Once there is a break above $173-175, the price may trade towards a connecting bearish trend line at $179. There can be a couple of swing moves above the $150 support before we can see more gains. On the upside, the most important resistance is at $180. A break above it might take the price back towards the $200 level.

Looking at the indicators:

Hourly MACD – The MACD for DASH/USD is moving back in the bullish zone.

Hourly RSI – The RSI for DASH/USD is attempting a break above the 50 level.

Intraday Support Level – $150

Intraday Resistance Level – $180

Charts from Poloniex; hosted by Trading View

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.

Source: Newsbtc

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