Dash Price Technical Analysis – Can DASH/USD Stay Above $150?

Dash Price Technical Analysis

Key Highlights

  • Dash price struggled to break the $190-200 resistance area once again versus the US Dollar, and moved down.
  • There is a crucial support area at $150 and a major bullish trend line with support at $155 on the hourly chart of DASH/USD (data feed from Poloniex).
  • As long as the pair is above the $150 support, it may recover and move towards $170.

Dash price (DigitalCash) faced sellers once again against the US Dollar and Bitcoin. DASH/USD moved down sharply and just managed to hold the $150 support.

Dash Price Major Support Zone

In the last analysis, I highlighted two things for Dash price against the US Dollar. First, a major failure to break the $200 resistance, and the second was a crucial support area near $155-150. The price traded higher towards $190-195, but failed to break the stated levels. It seems like the $190-200 resistance zone is turning out to be a significant barrier for buyers.

The price moved down sharply, and traded below the $170 support and the 100 hourly simple moving average. The downside move was striking, but the price just managed to remain above the $150 support. There is a clear important support area at $150 and a major bullish trend line with support at $155 forming on the hourly chart of DASH/USD. The price is just holding the $150 support and recovering.

Dash Price Technical Analysis

On the upside, the 100 hourly simple moving average is waiting near $172 to act as a resistance. Moreover, the 50% Fib retracement level of the last decline from the $195 high to $140 low at $171 is also a major hurdle. Overall, the price may recover, but likely to face sellers near $170-175.

Looking at the indicators:

Hourly MACD – The MACD for DASH/USD is attempting to move back in the bullish zone.

Hourly RSI – The RSI for DASH/USD is recovering from the oversold readings.

Intraday Support Level – $150

Intraday Resistance Level – $170


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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