Dash Price Technical Analysis – DASH/USD Holding Support

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Key Highlights

  • Dash price did not gain pace against the US Dollar, and remained below the $104-105 resistance.
  • Yesterday’s highlighted connecting bullish trend line with support at $95 on the hourly chart of DASH/USD (data feed from Poloniex) is still holding.
  • It looks like the price is struggling, and might break the $95 support for more declines.

Dash price (DigitalCash) failed to gain pace against the US Dollar, and now attempting to break a trend line support at $95.

Dash Price Downside Break?

Yesterday, we saw how Dash price managed to hold the $90 support area against the US Dollar. However, the price also failed to gain momentum, and break the $108 resistance area. Recently, it was seen struggling near $105, as it was already rejected once. It failed to clear the 61.8{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} Fib retracement level of the last decline from the $117 high to $89.21 low, and moved down. It is also struggling to remain above the 100 hourly simple moving average at $102, which is not a good sign.

One positive sign is yesterday’s highlighted connecting bullish trend line with support at $95 on the hourly chart of DASH/USD (data feed from Poloniex). It is still holding losses, and preventing a downside break. However, the pair is seen struggling to hold the 50{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} Fib retracement level of the last wave from the $89 low to $108 high. So, there is a chance that the price might break the trend line support at $95.

Dash Price Technical Analysis DigitalCash

On the upside, the price needs to close above 100 hourly simple moving average at $102. The most important break needed is above $105 and $108. If the price continues to fail, there is a chance of a downside break below $95.

Looking at the indicators:

Hourly MACD – The MACD for DASH/USD is almost flat at the moment.

Hourly RSI – The RSI for DASH/USD is now below the 50 level.

Intraday Support Level – $95

Intraday Resistance Level – $104-105

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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Ticker

1 BTC = $43730.55 USD  (via Coinbase)
1 ETH = $3052.12 USD  (via Coinbase)
1 LTC = $159.29 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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