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Dash Price Technical Analysis – Time to Buy?

Aayush Jindal
Aayush Jindal
7 years ago
2 mins read
Dash Price Technical Analysis

Reason to trust

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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Key Highlights

  • Dash price traded near our highlighted triangle pattern, and managed to stay above 0.0110BTC.
  • The triangle upper trend was cleared, but the break is not convincing as there was almost no follow through.
  • The price is still below the 100 hourly simple moving average, which is a worrying sign for buyers.

Dash price failed once again to gain pace, but there are a few signs emerging that suggests more gains in the short term.

0.0113BTC as a Resistance

The Dash price managed to stay above an important support area of 0.0110BTC. There was a contracting triangle pattern, which we highlighted yesterday. It was a breached to open the doors for more upsides in the near term. However, there is a crucial point to note is that there was no follow through after the break, and buyers were seen struggling to clear the 100 hourly simple moving average.

Dash Price Technical Analysis

Buyers have to clear the 100 SMA in order to ignite an upside rally. An initial resistance is around 0.0113BTC, as it presents a pivot level. If there is a break above the 100 SMA, then the price could head towards the next barrier, which is around 0.0120BTC. The stated level positioned with the 23.6% Fib retracement level of the last drop from 0.0147BTC to 0.0110BTC. So, one can consider buying with a break and close above the 100 hourly SMA with a target of 0.0120BTC.

On the downside, the broken trend line may act as a support area. Any additional weakness could take the price towards the last swing low of 0.0110BTC, which holds the key in the short term.

Intraday Support Level – 0.0110BTC

Intraday Resistance Level – 0.0114TC

The hourly RSI has managed to settle above the 50 level, which is an early bullish sign.

 

Charts courtesy of Trading View

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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