- Dash price traded lower from the $200 swing high against the US Dollar, but found support at $150.
- There is an important bullish trend line with support at $150-155 forming on the hourly chart of DASH/USD (data feed from Poloniex).
- The pair may extend the current recovery and traded towards $170-180.
Dash price (DigitalCash) recent decline was well supported against the US Dollar and Bitcoin. DASH/USD remains buy on dips near $155-150.
Dash Price Crucial Support
There were solid gains in Dash price as it moved above the $180 resistance against the US Dollar. It tested the all-important $200 level where it faced sellers and moved down sharply. The downside move was sharp and the price fell by more than $50. It attempted a break and close below the $150 support and the 100 hourly simple moving average. However, buyers succeeded in defending the $150 support.
An important bullish trend line with support at $150-155 on the hourly chart of DASH/USD prevented losses. The price is recovering at the moment, and trading above the 23.6% Fib retracement level of the last decline from the $200 high to $147 low. The best part is a close above the $160 resistance and the 100 hourly simple moving average. Buyers now need to break the 50% Fib retracement level of the last decline from the $200 high to $147 low at $173.
Once there is a break above $173-175, the price may trade towards a connecting bearish trend line at $179. There can be a couple of swing moves above the $150 support before we can see more gains. On the upside, the most important resistance is at $180. A break above it might take the price back towards the $200 level.
Looking at the indicators:
Hourly MACD – The MACD for DASH/USD is moving back in the bullish zone.
Hourly RSI – The RSI for DASH/USD is attempting a break above the 50 level.
Intraday Support Level – $150
Intraday Resistance Level – $180
Charts from Poloniex; hosted by Trading View