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DASH Technical Analysis – Support Levels in Play –24/06/19

Bob Mason

Key Highlights

  • DASH fell by 1.03% on Sunday. Partially reversing a 4.84% gain from Saturday, DASH ended the week up 10.3% to $173.211.
  • DASH steered clear of the first major support level at $157.938 with a late morning intraday low $169.391.
  • A late intraday high $179.015 saw DASH fall short of the first major resistance level at $188.315.
  • The extended bearish trend, formed back at late April 2018’s swing hi $547.97, remained firmly intact. DASH continued to fall well short of the 38.2% FIB Retracement Level of $244, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Support

DASH fell by 1.03% on Sunday. Partially reversing a 4.84% rally from Sunday, DASH ended the week up 10.3% to $173.211.

A bearish start to the day saw DASH fall to a late morning intraday low $169.391 before finding support.

Whilst steering clear of the first major support level at $157.938, fell through the 23.6% FIB of $172 before finding support. DASH recovered through the afternoon to a late intraday high $179.015.

In spite of the late recovery, DASH fell well short of the first major resistance level at $188.315 before falling back to a 2nd half of a day low $170.895. The late pullback saw DASH fall back through the 23.6% FIB of $172 before recovering to $173 levels.

Following a 51% gain in May that led to a current year high $198.89, it’s been a mixed month in June. A bearish start to the month saw DASH slide to a June low $135.1 before finding recovering.

For the current month, DASH was up 4.34% to the end of Sunday, with last week’s rally pulling DASH into the green.

The extended bearish trend formed back at late April 2018’s swing hi $547.97, remained firmly intact in spite of the recovery. DASH continues to fall well short of the 38.2% FIB of $244.

At the time of writing, DASH was down by 1.26% to $171.024. A bearish start to the day saw DASH fall from an early intraday high $172.613 to a low $169.286.

Whilst steering clear of the major support and resistance levels, DASH fell back through the 23.6% FIB of $172.

For the day ahead,

A move back through the 23.6% FIB of $172 to $173.90 levels would support a run at the first major resistance level at $178.35.

DASH would need support from the broader market, however, to break out from $174 levels on the day.

Barring a broad-based crypto rebound, DASH would likely fall well short of $178 levels on the day.

Failure to move back through the 23.6% FIB of $172 could see DASH slide back to sub-$170 levels.

Barring an extended sell-off through the day, however, DASH will likely steer clear of the first major support level at $168.73.

Looking at the Technical Indicators

Major Support Level: $178.35

Major Resistance Level: $168.73

23.6% FIB Retracement Level: $172

38.2% FIB Retracement Level: $244

62% FIB Retracement Level: $360

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

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