Dash Price Technical Analysis – DASH/USD To Test $150?

Dash Price Technical Analysis

Key Highlights

  • Dash price started a nice upside move after forming a base near $100 against the US Dollar.
  • The DASH/USD pair is currently following an ascending channel with support at $124 on the hourly chart (data feed from Poloniex).
  • A break above the $140 level might call for further gains towards the $150 resistance.

Dash price (DigitalCash) after consolidating spiked higher against the US Dollar and Bitcoin, and now DASH/USD is eyeing for a move towards the $150 level.

Dash Price Uptrend Intact

In the last analysis, we saw start of an uptrend above $100 in Dash price against the US Dollar. The upside move was strong, as the price was able to settle above the $115 and $120 resistance levels. Later, there was a break above the 61.8% Fib retracement level of the last decline from the $151 high to $74 low. It has opened the doors for more gains towards $150.

The price is now comfortably placed above the $120 support and the 100 hourly simple moving average. Also, there is an important ascending channel with support at $124 on the hourly chart. At the moment, the pair is testing the channel resistance at $140. A break above the $140 level might call for further gains towards the $150 resistance.

Dash Price Technical Analysis

On the downside, an initial support is around the 23.6% Fib retracement level of the last wave from the $110.00 low to $140.70 high. However, the most important support is near the channel trend line at $124-22. It also coincides with the 50% Fib retracement level of the last wave from the $110.00 low to $140.70 high. So, the overall trend is bullish with chances of a break towards $150, and dips remains supported.

Looking at the indicators:

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

Hourly RSI – The RSI for DASH/USD is currently just below the overbought levels.

Intraday Support Level – $125

Intraday Resistance Level – $140

 

Charts from Poloniex; hosted by Trading View

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

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