- 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.
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
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