- Dash price remained in a heavy bid mode against the US Dollar and Bitcoin.
- There is a nice connecting bullish trend line formed on the 4-hours chart of DASH/USD (data feed from Poloniex) with support at $90.
- The price might continue to rise and bound to settle above the all-important $100 level.
Dash price remains in a solid uptrend, as the price soared by more than 50% against the US Dollar. DASH/USD now looks set for more gains above $100.
Dash Price Looking Super Bullish
During the past few days, we saw how Dash price marched higher and climbed above $50, $60, $70 and $80. The price even broke the $100 level recently and traded as high as $102.35. There are many positive signs for more gains in the near term, and DASH/USD is likely to trade further higher. The price is now back below the $100, but remains supported on the downside.
There is a monster bullish trend line with support at $90 formed on the 4-hours chart of DASH/USD (data feed from Poloniex). Moreover, the 23.6% Fib retracement level of the last wave from the $48 low to $102.35 high is also around the same trend line. So, we can say that there are a lot of support levels on the downside above $90. So, if the price moves down, it can find buyers on the downside near $90. Only a break below the trend line support could take the price towards 38.2% Fib retracement level of the last wave from the $48 low to $102.35 high.
On the upside, the price may soon break the $100 handle once again and trade above the last high of $102.35.
Looking at the indicators:
4-hours MACD – The MACD is placed nicely in the bullish area.
4-hours RSI – The RSI is in the overbought levels and remains supportive of more gains.
Intraday Support Level – $90
Intraday Resistance Level – $102
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.