- Dash price started an upside move from the $155 low versus the US Dollar, and moved higher.
- There is a decent bullish trend line formed with support at $177 on the hourly chart of DASH/USD (data feed from Poloniex).
- The price is currently attempting to break a major resistance area near $184-185.
Dash price (DigitalCash) is trading with a positive bias against the US Dollar and Bitcoin, and now DASH/USD needs to break $185 for further gains.
Dash Price Rise
It looks like Dash price gained solid bids near $155-160 area against the US Dollar. As a result, there was an upside move, and the price was able to climb above $170. During the upside move, there was a break above the $172 resistance and the 100 hourly simple moving average. At the moment, the price is trading near a major resistance at $184-185.
The $185 resistance stopped the upside move on a few occasions, so it won’t be easy for DASH to clear it. Once there is a break above $185, there can be an upside move towards $195-200. On the downside, there is a decent bullish trend line formed with support at $177 on the hourly chart of DASH/USD. The trend line also coincides with the 23.6% Fib retracement level of the last wave from the $156 low to $184 high.
A break and close below the trend line support could ignite a correction towards $173. However, the most important support is near the 50% Fib retracement level of the last wave from the $156 low to $184 high at $170. The $170 support is also aligned with the 100 hourly simple moving average. Buying with a break above $185 can be considered with a tight stop below the trend line support.
Looking at the indicators:
Hourly MACD – The MACD for DASH/USD is mostly neutral.
Hourly RSI – The RSI for DASH/USD is well above the 50 level.
Intraday Support Level – $177
Intraday Resistance Level – $185
Charts from Poloniex; hosted by Trading View