DASH Technical Analysis – Bulls Take Over – 13/07/18

Key Highlights

• DASH fell by 1.76% on Thursday, following Wednesday’s 1.79% fall, to end the day at $214.329.
• Following the broader market, DASH fell from a start of the day intraday high $218.16 through the day’s first major support level at $213.79 and second major support level at $209.42 to an intraday low and new swing lo $206.63 before bouncing back to $214 levels by the day’s end.
• The morning’s intraday high fell short of the first major resistance level at $223.77 and continued to fall well short of the 23.6% FIB Retracement Level, to leave the extended bearish trend intact.

How to Buy DASH

DASH Price Resistance

DASH fell by 1.76% on Thursday, following Wednesday’s trend bucking 1.79% fall, to end the day at $214.33.

An intraday high $218.16 at the start of the day saw DASH fall short of the first major support level at $223.77 and well short of the 23.6% FIB Retracement Level of $294, with a broad based market sell-off seeing DASH slide through the day’s first major support level at $213.79 and second major support level at $209.42 to a late in the day intraday low and new swing lo $206.63 before bouncing back to $214 levels by the day’s end.

For the crypto bulls, the break back through the day’s major support levels in the final hour will have been bullish, though striking a new swing lo in the current bearish trend will likely continue to keep the pressure on DASH over the near-term.

At the time of writing, DASH was up 8.23% to $228.051 in what’s been an impressive rebound in the early hours of this morning from Thursday’s new swing lo $206.63.

DASH surged through the day’s three major resistance levels to a morning high $240.18, before easing back through the day’s third major resistance level at $236.12 to $228 levels, DASH holding above the second major resistance level at $224.57, while continuing to fall short of the 23.6% FIB Retracement Level of $287.

For the day ahead, a move back through to $230 levels would support another run at the third major resistance level at $236.10, with a break back through to $240 levels raising the prospects of $280 levels and a possible bearish trend reversal.

Failure to move back through to $230 levels could see DASH cough up most of the morning gains to bring the day’s first major support level at $207.92 before any recovery, with DASH likely to move heavily influenced by a broad based sell-off.

Looking at the Technical Indicators

Major Support Level: $207.91

Major Resistance Level: $219.45

Fib 23.6% Retracement Level: $288

Fib 38% Retracement Level: $337

Fib 62% Retracement Level: $418