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DASH Technical Analysis – Resistance Levels in Play –01/04/19

Bob Mason

Key Highlights

  • DASH rallied by 9.75% on Sunday. Following on from a 1.96% gain on Saturday, DASH ended the day at $110.2.
  • An early morning intraday low $99.303 saw DASH steer well clear of the first major support level at $96.68.
  • A late in the day intraday high $110.56 saw DASH break through the day’s major resistance levels.
  • The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact. In spite of 7 weeks in the green out of the last 8, DASH continued to sit well below the 23.6% FIB Retracement Level of $172, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Resistance

DASH rallied by 9.75% on Sunday. Following on from a 1.96% gain on Saturday, DASH ended the week up 21.2% to $110.2. A run of 7 weeks in the green out of the last 8 contributed to a 42% gain for the quarter, 34% of which came in March.

On the day, an early morning intraday low $99.303 was the only bearish move of the day. Steering well clear of the first major support level at $96.68, DASH rallied to a late intraday high $110.56.

The day-long rally saw DASH break through the major support levels and hold above the third major support level at $108.71 at the day’s end.

In spite of 7 weeks in the green out of the last 8, the extended bearish trend formed back at late April’s swing hi $547.97, remained firmly intact. DASH continued to sit well below the 23.6% FIB Retracement Level of $172 following mid-December’s swing lo $56.21.

For the bulls, it’s been an impressive 1st quarter, with DASH seeing weekly gains in all but 3 weeks in the year. A breakthrough to $100 levels was key in the last week to support a continued recovery to $170 levels.

At the time of writing, DASH was up by 4.43% to $115.084. A start of a day fall to a morning low $108.0 saw DASH steer clear of the first major support level at $102.82. Rallying through the early hours, DASH hit a morning high $117.228 before easing back. The early breakout saw DASH break through the first major resistance level at $114.07 to come within range of the second major resistance level at $117.95.

For the day ahead,

A move back through to $115 levels would signal a run at the early morning high $117.23. Support from the broader market would be needed, however, for DASH to breakout from a return to $115 levels. In the event of a return to $117 levels, we would expect the second major resistance level at $117.95 to pin DASH back from $118 levels.

Failure to move back through to $115 levels could see DASH fall back to $112 levels before any recovery. Barring a crypto meltdown we would expect DASH to avoid sub-$112 levels through the day. In the event of a sell-off, sub-$110 levels could come into play, though we would expect the first major resistance level at $102.82 to be left untested.

Looking at the Technical Indicators

Major Support Level: $102.82

Major Resistance Level: $114.07

23.6% FIB Retracement Level: $172

38.2% FIB Retracement Level: $244

62% FIB Retracement Level: $360

This article was originally posted on FX Empire

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