28-04-2017
05:52 pm
=

Dash Price Technical Analysis – DASH/USD Trend Intact




Dash price remained well-supported this past week against the US Dollar. After a dip towards $80, DASH/USD is now back in the bullish zone.
Dash Price Technical Analysis

Key Highlights

  • Dash price managed to remain above the $80 support, and now back above $100.
  • The last highlighted bullish trend line on the 4-hours chart of DASH/USD (data feed from Poloniex) is still intact with support at $95.
  • On the upside, the price is facing sellers near the $118 and $120 levels.

Dash price remained well-supported this past week against the US Dollar. After a dip towards $80, DASH/USD is now back in the bullish zone.

Dash Price Support

In the last analysis, I mentioned that Dash price may soon break the $100 handle once again. It not only broke the stated level, but also managed to clear the last high of $102.35. It created a new high above $110 and traded as high as $118.16. The most important point is the fact that the price remained supported above $80. There was a move towards the 38.2% Fib retracement level of the last wave from the $48 low to $102.35 high where it found support.

Moreover, I highlighted a bullish trend line in the last analysis on the 4-hours chart of DASH/USD (data feed from Poloniex) with support at $90. It kind of played well, and helped the price remain above $80. It is currently intact with support at $95. If the price dips from the current levels, then the trend line support might play well above $90. It also coincides with the 38.2% Fib retracement level of the last wave from the $65 low to $118.16 high.

Dash Price Technical Analysis

So, if the price moves down, it might find support near $95 and $90. On the upside, there is a resistance trend line near $120. It may stop the current upside for now before buyers step up the momentum.

Looking at the indicators:

4-hours MACD – The MACD for DASH/USD is currently flat with no major direction.

4-hours RSI – The RSI for DASH/USD is well above the 50 level, which is a positive sign.

Intraday Support Level – $90

Intraday Resistance Level – $120

 

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.

Published by

Aayush Jindal

Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

SUBSCRIBE TO OUR NEWSLETTER