Dash Price Technical Analysis – DASH/USD Approaching Short-term Break

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Key Highlights

  • Dash price remained in a downtrend against the US Dollar, and continued below $88.
  • Yesterday’s highlighted resistance trend line is now aligned with resistance at $86 on the hourly chart of DASH/USD (data feed from Poloniex).
  • On the downside, there is a minor bullish trend line with support at $84.

Dash price (DigitalCash) struggled to gain bids against the US Dollar, and now DASH/USD is looking for a short-term break with support at $84.

Dash Price Support

We followed a downtrend in Dash price this week with decreasing resistance at $90 and $88 against the US Dollar. The price slowly moved down recently and settled below the $88 level. The most important point is the fact that it failed to overtake the $88 and $90 resistance levels. Moreover, this week’s highlighted resistance trend line is now positioned at $86 on the hourly chart of DASH/USD (data feed from Poloniex). It may continue to act as a hurdle for buyers near $86 and $88.

The price recently failed to break the 38.2{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} Fib retracement level of the last decline from the $107.2 high to $75.45 low, which is a concern. Furthermore, the 100 hourly simple moving average is just above the trend line at $87, and bending down. It means the price is following a declining path. However, DigitalCash sellers are losing momentum, and the price is trading in a tight range. On the downside, there is a minor bullish trend line with support at $84.

Dash Price Technical Analysis DigitalCash

So, we can say that there is a breakout pattern formed with resistance at $86-88, and support at $84. We must keep an eye on these levels to prepare for the next move.

Looking at the indicators:

Hourly MACD – The MACD for DASH/USD is almost flat with no major bias.

Hourly RSI – The RSI for DASH/USD is struggling to head higher and currently below the 50 level.

Intraday Support Level – $84

Intraday Resistance Level – $88

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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Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

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Ticker

1 BTC = $48426.26 USD  (via Coinbase)
1 ETH = $3810.84 USD  (via Coinbase)
1 LTC = $310.42 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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