Dash Price Technical Analysis – DASH/USD Facing Major Resistance




Dash price (DigitalCash) is slowly moving higher against the US Dollar and Bitcoin, and now DASH/USD faces a tough test near $180.
Dash Price Technical Analysis

Key Highlights

  • Dash price struggling to break the $180 resistance versus the US Dollar and currently trading in a range.
  • There is a short-term bearish trend line forming with resistance at $180 on the hourly chart of DASH/USD (data feed from Poloniex).
  • The price needs to clear the $180 resistance and the 100 hourly simple moving average for more gains.

Dash price (DigitalCash) is slowly moving higher against the US Dollar and Bitcoin, and now DASH/USD faces a tough test near $180.

Dash Price Resistance

Recently, there was a decline below $180 in Dash price against the US Dollar. The price even traded below the $170 level and formed a low at $169. Later, a recovery wave was initiated, and the price was able to move back above the $175 level. However, the same broken support at $180 is currently acting as a barrier for buyers. There is also a short-term bearish trend line forming with resistance at $180 on the hourly chart of DASH/USD.

Furthermore, the 23.6% Fib retracement level of the last decline from the $218 high to $169 low is near $180.50. Lastly, the $180 resistance also coincides with the 100 hourly simple moving average. All in all, the $180 resistance is a crucial level for more gains in the near term. If buyers succeed in clearing $180, the next stop could be $188. The $188 level was also a support earlier and now it may act as a resistance.

Dash Price Technical Analysis

The 38.2% Fib retracement level of the last decline from the $218 high to $169 low is also around $188. So, even if there is a break above $180, gains could be limited by $188.

Looking at the indicators:

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

Hourly RSI – The RSI for DASH/USD is well above the 50 level.

Intraday Support Level – $170

Intraday Resistance Level – $180

 

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 a DECADE 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, commodities, Bitcoin and Ethereum markets. He is a software engineer by profession, loves blogging and observing financial markets.

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