Key Highlights
- Dash price did not gain pace against the US Dollar, and remained below the $104-105 resistance.
- Yesterday’s highlighted connecting bullish trend line with support at $95 on the hourly chart of DASH/USD (data feed from Poloniex) is still holding.
- It looks like the price is struggling, and might break the $95 support for more declines.
Dash price (DigitalCash) failed to gain pace against the US Dollar, and now attempting to break a trend line support at $95.
Dash Price Downside Break?
Yesterday, we saw how Dash price managed to hold the $90 support area against the US Dollar. However, the price also failed to gain momentum, and break the $108 resistance area. Recently, it was seen struggling near $105, as it was already rejected once. It failed to clear the 61.8% Fib retracement level of the last decline from the $117 high to $89.21 low, and moved down. It is also struggling to remain above the 100 hourly simple moving average at $102, which is not a good sign.
One positive sign is yesterday’s highlighted connecting bullish trend line with support at $95 on the hourly chart of DASH/USD (data feed from Poloniex). It is still holding losses, and preventing a downside break. However, the pair is seen struggling to hold the 50% Fib retracement level of the last wave from the $89 low to $108 high. So, there is a chance that the price might break the trend line support at $95.
On the upside, the price needs to close above 100 hourly simple moving average at $102. The most important break needed is above $105 and $108. If the price continues to fail, there is a chance of a downside break below $95.
Looking at the indicators:
Hourly MACD – The MACD for DASH/USD is almost flat at the moment.
Hourly RSI – The RSI for DASH/USD is now below the 50 level.
Intraday Support Level – $95
Intraday Resistance Level – $104-105
Charts from Poloniex; hosted by Trading View
