DASH Technical Analysis – Hits Support – 26/09/18

DASH joins the majors in the red in the early hours, with direction through the day hinged on direction through mid-morning.
Bob Mason
Ripple, Dash coin, Bitcoin, Monero and Ethereum

Key Highlights

  • DASH slid by 3.87% on Tuesday, following a 3.5% fall on Monday, to end the day at $189.15.
  • A bearish start to the day saw DASH fall through the day’s first major support level at $190.5 and the second major support level at $184.24 to an intraday low $180.1.
  • A start of a day intraday high $197.4 saw DASH come up short of the day’s first major resistance level at $204.53.
  • 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 Support

DASH slid by 3.87% on Tuesday, following a 3.5% fall on Monday, to end the day at $189.15, the day’s decline marking a 3rd consecutive day in the red for DASH.

A late partial recovery on Monday failed to continue into the early hours of Tuesday, with DASH hitting reverse at the start of the day, falling through the day’s first major support level at $190.5 and second major support level at $184.24 to a late morning intraday low $180.1 before steadying.

Following a relatively range bound afternoon, a late in the day recovery saw DASH move break back through the day’s second major support level at 184.24 to a second half of a day high $190, before easing back, DASH unable to break back through the first major support level at $190.5.

The moves through the early part of the week reaffirmed the extended bearish trend formed at late April’s swing hi $547.97, with DASH continuing to fall well short of the 23.6% FIB Retracement Level of $229.

At the time of writing, DASH was down 2.61% to $185.05, with DASH tracking the broader market into the red early in the day, a slide from a start of a day high $189.15 to a morning low $183.34 reversing late Tuesday’s partial recovery, while steering clear of the day’s first major support level at $180.37.

For the day ahead, a move back through the morning high $189.15 to $190 levels would support a run at $195 levels, while the day’s first major resistance level at $197.67 will likely be out of reach barring particularly positive news hitting the wires to shift sentiment, a hold above $189 by late morning needed at a minimum to signal a possible relief rally.

Failure to move back through to $189 by late morning could see DASH take a bigger hit later in the day, with a pullback through the morning low $183.34 bringing the day’s first major support level at $180.37 into play, sub-$180 support levels unlikely to be tested barring materially negative news hitting the wires through the day.

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Looking at the Technical Indicators

Major Support Level: $180.37

Major Resistance Level: $197.67

Fib 23.6% Retracement Level: $229

Fib 38% Retracement Level: $290

Fib 62% Retracement Level: $388

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