DASH Technical Analysis – Eyeing Price Resistance – 31/10/18

Key Highlights

• DASH gained 1.78% on Tuesday, following a 3.07% fall on Monday, to end the day at $152.02.
• A start of a day intraday low $148.27 saw DASH steer clear of the day’s first major support level at $146.66.
• Upward momentum through the day saw DASH strike a late intraday high $152.69, falling short of the first major resistance level at $153.86.
• The moves through the week reaffirmed the extended bearish trend formed at late April’s swing hi $547.97

How to Buy DASH

 

DASH Price Resistance

DASH gained 1.78% on Tuesday, partially reversing Monday’s news driven 3.07% slide, to end the day at $152.02.

Tracking the broader market through the early hours, DASH broke through to $150 levels to hit a morning high $151.84, with continued momentum through the afternoon seeing DASH buck the trend seen across the broader market to strike a late in the day intraday high $152.69 before easing back.

A start of a day intraday low $149.37 saw DASH steer clear of the first major support level at $146.66, while also falling well short of the day’s first major resistance level at $153.86 late in the day.

With DASH continuing to fall well short of the 23.6% FIB Retracement Level of $229, the extended bearish trend, formed at late April’s swing hi $547.97 remained firmly intact, with DASH needing a break out from the 23.6% FIB Retracement Level to bring the 38.2% FIB Retracement Level of $290 into play in order to begin forming bearish trend reversal.

At the time of writing, DASH was up 2.13% to $155.24, a bullish start to the day seeing DASH rally from an early morning low $152.89 to a morning high $158 before easing back, the moves through the early morning seeing DASH break through the first major resistance level at $153.35 and second major resistance level at $154.68 to come up against the third major resistance level at $158.01 before pulling back.

While testing the day’s major resistance levels, the morning low $152.89 held well above the first major support level at $150.03.

For the day ahead, holding above the second major resistance level at $154.68 would support another run at the third major resistance level at $158.01, with any break through likely to see DASH test resistance at $160 before any pullback, though the broader market will need to be relatively steady to support a second run.

Failure to hold above the second major resistance level could see DASH hit reverse later in the day, with a fall back through $154.68 likely to see DASH pullback to $153 levels before steadying, the day’s major support levels likely to be out of play on the day, barring materially negative news hitting the crypto wires.

Looking at the Technical Indicators

Major Support Level: $150.90

Major Resistance Level: $154.22

Fib 23.6% Retracement Level: $229

Fib 38% Retracement Level: $290

Fib 62% Retracement Level: $388