Categories: Bitcoin Business

Dash Price Technical Analysis – DASH/USD Testing Major Support

Click here to view original web page at

Key Highlights

  • Dash price managed to trade above $110 against the US Dollar, but later found resistance.
  • The DASH/USD pair is currently trading near a major bullish trend line with support at $98 on the hourly chart (data feed from Poloniex).
  • A successful close below the trend line support at $98 may call for further declines in the near term.

Dash price (DigitalCash) is currently struggling against the US Dollar and Bitcoin, and DASH/USD may soon break a major support at $98 for a downside move.

Dash Price Break Likely

In the last analysis, we saw how there was an upside break in Dash price above $100 against the US Dollar. The price continued to trade higher and even managed to break the $110 level. A new high was formed near $116 where sellers appeared and pushed the price down. The price traded sharply lower, and moved below $110. There was a clear break of the 50% Fib retracement level of the last wave from the $90 low to $116 high.

The price even attempted a close below the 100 hourly simple moving average at $102. At the moment, the price is trading below $100, and attempting a crucial break. It is trading near a major bullish trend line with support at $98 on the hourly chart of DASH/USD. It is also below the 61.8% Fib retracement level of the last wave from the $90 low to $116 high.

So, there are high chances of Dash price breaking the trend line support at $98. If there is a close below the trend line support at $98, it may ignite a decline towards $90. On the upside, the $105 level could act as a resistance in the short term.

Looking at the indicators:

Hourly MACD – The MACD for DASH/USD is moving slowly in the bearish zone.

Hourly RSI – The RSI for DASH/USD is well below the 50 level and heading south.

Intraday Support Level – $98

Intraday Resistance Level – $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.

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Is Boris Gone Landslide and How Would Bitcoin, Markets, React?

The sun has returned on London streets as Boris Johnson, the unelected British Prime Minister, once again covers our TV… Read More

3 hours ago

California Man Admits Masterminding $25 Million Bitcoin Launder Fest

A Los Angeles man has plead guilty to a multi-million money laundering scheme. | Source: Shutterstock By CCN Markets :… Read More

3 hours ago

WORLD NEWS: This Week in Blockchain and Crypto

This week has seen interesting developments around the globe on crypto projects and governments interest in the digital assets space.The… Read More

3 hours ago

Bitcoin Circuit: Is it a scam? Read our comprehensive review!

If you are looking for ways to speculate on cryptocurrencies, then I am sure you have thought about signing up… Read More

3 hours ago

Model: Bitcoin (BTC) Price to Surge 100% to $20,000 by May

In just around nine months, Bitcoin (BTC) will see its next block reward reduction — dubbed “halving”. Despite this rapidly… Read More

3 hours ago

Early Bitcoin Contributor Projected $10 Million BTC Price 10 Years Ago

Share Tweet Send Share Just a week after the bitcoin genesis block in January 2009, computer scientist Hal Finney published… Read More

3 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More