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Home Technical analysis

Dash Price Technical Analysis – Pattern Continuation

Aayush Jindal by Aayush Jindal
6 years ago
in Technical analysis
Reading Time: 2min read
Dash Price Technical Analysis – Pattern Continuation.
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Dash Price Key Highlights

  • Dash price continued to move higher and looks set for more gains in the near term.
  • As highlighted yesterday there is a flag pattern formed on the hourly chart, which is still in play and the price is moving inside it.
  • A major hurdle around 0.0120BTC continue to stall the upside move, and must be cleared for more gains.

Dash price continued to move inside the flag pattern as buyers remained in control in the short term.

Pattern Continuation

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We highlighted yesterday a flag pattern forming on the hourly chart, which continued to act as a catalyst for buyers. There is a nice upside wave in formation, as the 100 hourly simple moving average is below the current price. It means the price remains supported and there are chances of more gains in the near term. However, there is a monster barrier forming on the upside around 0.0120BTC as stated in yesterday’s post. The mentioned level also coincides with the 23.6% Fib retracement level of the last drop from 0.0147BTC to 0.0111BTC.

Dashcoin

Moreover, it also represents the previous swing area, and might act as a major hurdle for buyers. If there is a break above the flag resistance area, then the price might head towards the 38.2% Fib retracement level. The chances of any additional gains are limited considering the current price action.

On the downside, the flag pattern support area might play a crucial role, and buyers must protect it if they want to take the price higher. A break below the same might take the price towards the 100 SMA, followed by the last swing low of 0.0111BTC.

Intraday Support Level – 0.0114BTC

Intraday Resistance Level – 0.0120TC

The hourly RSI and MACD still in the positive zone and suggesting more gains in the short term.

 

Charts courtesy of Trading View

Tags: Dashdash coin valuedash cryptocurrencyDash Price priceDash Price Technical Analysis
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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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