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Home Technical analysis

Dash Price Technical Analysis – DASH/USD Breaks Higher

Aayush Jindal by Aayush Jindal
4 years ago
in Technical analysis
Reading Time: 2min read
Dash Price Technical Analysis DigitalCash
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Key Highlights

  • Dash price finally made an upside move, and broke the $65 resistance against the US Dollar.
  • The last highlighted bearish trend line with resistance at $64 on the hourly chart of DASH/USD (data feed from Poloniex) was cleared.
  • The price is now above the 100 hourly simple moving average at $65, which is a positive sign.

Dash price (DigitalCash) managed to gain strength against the US Dollar, and now DASH/USD is trading in the positive zone above $65.

Dash Price Support

During the past few days, we saw Dash price struggle below the $70 level against the US Dollar. The price traded as low as $60 recently from where it started a correction. Earlier, it struggled to gain pace above $63, but later it managed to gain strength. There were a couple of important resistance breaks like $63 and $65. These breaks have opened the doors for more gains in the near term towards $72.75.

The most important move was above the last highlighted bearish trend line with resistance at $64 on the hourly chart of DASH/USD. Second, the price was above to break the 23.6% Fib retracement level of the last decline from the $78.80 high to $60.66 low. The last and the most crucial one was above 100 hourly simple moving average at $65. These all are positive signs, as the price already traded close to the $70 level.

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Dash Price Technical Analysis DigitalCash

At the moment, the 50% Fib retracement level of the last decline from the $78.80 high to $60.66 low is preventing gains. So, there is a chance of a minor dip in the short term towards $65-63. Once the dip completes the price may again move higher towards $72-75.

Looking at the indicators:

Hourly MACD – The MACD for DASH/USD is currently moving away from the bullish zone.

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

Intraday Support Level – $63

Intraday Resistance Level – $70

 

Charts from Poloniex; hosted by Trading View

Tags: Dashdash priceDash price analysisDash price chartDash Price ForecastDash Price Technical AnalysisDASH/USDOpiniontrading
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Aayush Jindal

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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