- Dash price recovered well from the recent $135 swing low versus the US Dollar and moved higher.
- There is a new connecting bullish trend line with support at $158 forming on the hourly chart of DASH/USD (data feed from Poloniex).
- The price is currently trading higher and looks set to break the $170 level in the near term.
Dash price (DigitalCash) traded positively against the US Dollar and Bitcoin, and now DASH/USD has to break $170 for further gains in the near term.
Dash Price Support
Recently, we saw the start of an upside move in Dash price from the $120 support against the US Dollar. The price gained traction and moved above the $140 resistance and the 100 hourly simple moving average. There was even a break above the 50% Fib retracement level of the last decline from the $181.00 high to $120.00 low. It opened the doors for more gains and the price moved above $160.
At the moment, the price is placed well above the 61.8% Fib retracement level of the last decline from the $181.00 high to $120.00 low. It means the price may soon test the $180 swing high in the near term. On the downside, there is a new connecting bullish trend line with support at $158 forming on the hourly chart of DASH/USD. An initial support is around the 23.6% Fib retracement level of the last wave from the $120.00 low to $171.26 high. Moreover, the past resistance at $150 might now provide support.
Buying dips in the near term are favored for a move towards $180. On the downside, the $150 level is the most important support.
Looking at the indicators:
Hourly MACD – The MACD for DASH/USD is about to move back in the bullish zone.
Hourly RSI – The RSI for DASH/USD is well above the 50 level.
Intraday Support Level – $150
Intraday Resistance Level – $170
Charts from Poloniex; hosted by Trading View