Dash Price Technical Analysis Today

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Dash Price

How is Dash’s price today?

Below will be a technical analysis for Dash today brought by SimpleFX – Simple as Never Before, SimpleFX is a robust online trading provider, offering trading with Forex CFDs on Bitcoins, Litecoins, indices, precious metals and energy. The analysis below is strictly for information purposes only and should not be taken as investment/trading advice.
Dash price (DigitalCash) is recovering well against the US Dollar and Bitcoin, and now DASH/USD may soon break the $165 resistance for more gains.
Dash Price Technical Analysis

Key Highlights

  • Dash price faced a lot of selling pressure lately and traded below $140 versus the US Dollar.
  • There is a bearish trend line forming with resistance at $165 on the hourly chart of DASH/USD (data feed from Poloniex), which is protecting gains.
  • The price may soon gain pace and move above the $165 resistance to trade near $180.

Dash price (DigitalCash) is recovering well against the US Dollar and Bitcoin, and now DASH/USD may soon break the $165 resistance for more gains.

Dash Price Resistance

Recently, we saw a major decline in Dash price below $160 against the US Dollar. There were many attempts to break the $200 handle, but the price failed and moved down. During the downside move, it broke a few important supports like $180 and $160. A new low was formed below $140 at $136.14. Later, the price found support and started a recovery by moving above the $150 resistance. It also moved above the 23.6% Fib retracement level of the last decline from the $190 high to $136 low.

At the moment, the price is trading near a major hurdle at $165. There is a bearish trend line forming with resistance at $165 on the hourly chart of DASH/USD. The trend line resistance near $165 may play a major role. It also coincides with the 50% Fib retracement level of the last decline from the $190 high to $136 low. Once the price breaks the trend line resistance and settles above $165, there can be more gains.

Dash Price Technical Analysis

On the upside, the next hurdle is near $172 and the 100 simple moving average. On the downside, the $150 level is a support followed by $140.

Looking at the indicators:

Hourly MACD – The MACD for DASH/USD is back in the bullish zone.

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

Intraday Support Level – $140

Intraday Resistance Level – $165

via Newsbtc.com


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