DASH Technical Analysis – Looking to Buck the Trend and Test Resistance Levels 12/03/2018

Key Highlights

• DASH rallied 10.27% on Sunday, more than reversing Saturday’s 3.03% decline.
• Sunday’s intraday high $548 broke through the day’s first major resistance level of $517.47 while avoiding support levels.
• The day’s intraday low $465.56 fell through the 62% FIB Retracement Level of $473.71 before support kicked in.

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How to Buy DASH: The Complete Guide

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DASH’s Price Support

It was a mixed day for DASH on Sunday, with a bearish trend formed in the early hours of Saturday seeing DASH hit an intraday low $465.56 on Sunday morning, falling through its 62% FIB Retracement Level of $473.71, before rebounding in the middle part of the day.

A move through the 23.8% FIB Retracement Level of $508.62, with an intraday high $548 also broke clear of the day’s first major resistance level of $517.47, before easing back to $529.72 at the day’s end, 10.3% gain for the day. The day’s close above the day’s first major resistance level was in contrast to many of the other major cryptos that pulled back below major resistance levels by the day’s end.

At the time of writing, DASH was down 1.63% to $519.1 against the Dollar, falling through the day’s 23.6% FIB Retracement Level of $522.23 in what’s been a choppy start to the week, DASH having tested buyer appetite at the 23.6% FIB Retracement Level earlier in the morning.

Earlier buyer appetite supports a bounce back from today’s 23.6% FIB Retracement Level of $522.23, though for DASH to hold on to gains through the middle part of the day, a move though today’s intraday high $535.8 and a test of today’s first major resistance level of $563.29 will be needed to avoid a reversal, with any pullback through today’s 23.6% FIB Retracement Level likely to see DASH test buyer appetite at the 38.2% FIB Retracement Level of $506.29.

Market sentiment through the middle part of the day will influence DASH, with the current bullish trend being tested at the start of the week, as the bulls look for a return to $600 levels given up in the middle of last week.

As things stand, we will expect a move back through today’s intraday high, though profit taking may limit any material gains for the day, with DASH and the other major cryptocurrencies under pressure ahead of Wednesday’s Congress session on cryptocurrencies and initial coin offerings.

Looking at the Technical Indicators

• Major Support Level: $480.851
• Major Resistance Level: $563.291
• Fib 23.6% Retracement Level: $522.23
• Fib 38% Retracement Level: $506.29
• Fib 62% Retracement Level: $480.51