Dash Price Technical Analysis – DASH/USD Tuned Bullish

Key Highlights

  • Dash price after a slide below the $80 support against the US Dollar found buyers and recovered well.
  • The DASH/USD pair recently broke a major bearish trend line at $105 on the hourly chart (data feed from Poloniex).
  • The price is now above the $100 resistance and the 100 hourly simple moving average, which is a positive sign.

Dash price (DigitalCash) declined heavily against the US Dollar and Bitcoin on the weekend, but now DASH/USD is trading above $100 in the bullish zone.

Dash Price Upside Break

It was a nasty ride for Dash price, as it tumbled by around $50 against the US Dollar. It traded from the $150 swing high to well below the $100 level before finding support at $74. The decline was such that the price even broke the 1.236 extension of the last wave from the $95 low to $150 high. Later, the price managed to hold losses below $70 and started an upside move.

The upside move was decent, as the price was able to break the 23.6% Fib retracement level of the last decline from the $150 high to $74 low. Later, the price gained traction, and moved above the $100 resistance and the 100 hourly simple moving average. Furthermore, the DASH/USD pair recently broke a major bearish trend line at $105 on the hourly chart. The last important break was above the 50% Fib retracement level of the last decline from the $150 high to $74 low.

Dash Price Technical Analysis

The price has moved in the bullish zone above $100 and may continue to move higher. Any dips from the current levels may find support near $100 and the 100 hourly simple moving average.

Looking at the indicators:

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

Hourly RSI – The RSI for DASH/USD is heading lower, but well above the 50 level.

Intraday Support Level – $105

Intraday Resistance Level – $120

Charts from Poloniex; hosted by Trading View

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Source: Newsbtc