Dash Price Technical Analysis – DASH/USD Forming Range


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Key Highlights

  • Dash price remained supported on the downside above the $73 and $75 support levels against the US Dollar.
  • There is a crucial range pattern formed with support at $76 on the hourly chart of DASH/USD (data feed from Poloniex).
  • The price is now above the 100 hourly simple moving average at $76.5, which is a positive sign.

Dash price (DigitalCash) traded mostly in a range against the US Dollar, but it looks like DASH/USD is now looking to break $79 for more gains.

Dash Price Resistance

There were no major moves in Dash price against the US Dollar during the past two days, but it stayed above $72. There was a good support seen at $75, which held the downside move, and pushed the price higher. The price traded below the 38.2% Fib retracement level of the last wave from the $70 low to $80.80 high. However, the downsides were limited below $75.

The price at the moment is trading positively above $75. It looks like there is a crucial range pattern formed with support at $76 on the hourly chart of DASH/USD. On the downside, the 50% Fib retracement level of the last wave from the $70 low to $80.80 high also acting as a support. Moreover, there is a solid bullish trend line with support at $76 formed on the same chart.

Dash Price Technical Analysis

The most important support is around the 100 hourly simple moving average at $76.5. So, we can say that the price remains supported on the downside above $76 and $77. As long as the price is above these levels, there is a chance of it breaking the range resistance at $79 for further gains.

Looking at the indicators:

Hourly MACD – The MACD for DASH/USD is mostly flat with no major breakout sign.

Hourly RSI – The RSI for DASH/USD is currently well above the 50 level.

Intraday Support Level – $76

Intraday Resistance Level – $79

Charts from Poloniex; hosted by Trading View

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.

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