Dash Price Weekly Analysis – Range Persists

Aayush Jindal

Last Updated: June 11, 2024 1:23 pm

2 mins read

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Dash Price Key Highlights

Dash price continued to trade in a range as there was no break below 0.0110BTC.
As highlighted this past week there is a bearish trend line formed on the hourly chart, which continued to act as a barrier.
The price is struggling to settle above the 100 hourly simple moving average, which is a negative call for buyers.

Dash price found support around 0.0110BTC one more time, which caused an upside reaction this past week.

Trend Line Break

The Dash price struggled to clear the range formed, and traded between 0.0110BTC and 0.0120BTC. There was a lot of bearish pressure on the price this past week, which pushed the price towards 0.0110BTC but buyers managed to protect a break. There is a bearish trend line formed on the hourly chart, which is continued to stall gains every time the price attempted to trade higher. The most important point is the fact that the price is also below the 100 hourly simple moving average, which is worrying sign for buyers. So, it might be a tough task for them to take the price higher and clear the highlighted trend line and resistance area.

We must not forget the importance of 0.0120BTC, as it is a major pivot area where buyers struggled many times. The mentioned level is aligned with the 23.6% Fib retracement level of the last drop from 0.0147BTC to 0.0110BTC. Furthermore, it also represents a crucial pivot area for both buyers and sellers and there were a couple of failures noted around the stated resistance area.

On the downside, the last swing low of 0.0110BTC holds the key as a break below could ignite more losses.

Intraday Support Level – 0.0110BTC

Intraday Resistance Level – 0.0114TC

The hourly RSI and MACD are showing no sign of a bullish wave moving ahead.

Charts courtesy of Trading View

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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