Dash Price Technical Analysis

Dash Price Technical Analysis – DASH/USD Gaining Momentum

Avatar Aayush Jindal 2 years ago

Key Highlights

  • 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.

Dash Price Technical Analysis

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

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