DASH Technical Analysis – Resistance Levels Back in Play – 26/11/18

Key Highlights

• DASH fell by 0.05% on Sunday, following on from a Saturday 8.62% slide, to end the week down 31.46% to $90.058.
• A bearish start to the day saw DASH fall through the first major support level at $84.752 to an intraday low and new swing lo $80.453 before finding support.
• An afternoon recovery saw DASH strike an intraday high $92.485, the day’s high coming up short of the first major resistance level at $98.706.
• The new swing lo $80.453 reaffirmed the extended bearish trend, formed back at late April’s swing hi $547.97.

How to Buy DASH

DASH Price Support

DASH fell by 0.05% on Sunday, following on from an 8.62% slide on Saturday, to end the day at $90.058, the weekend losses leaving DASH down 31.46% for the week.

Tracking the broader market through the morning, Saturday’s sell-off continued into the early hours, with DASH falling through the day’s first major support level to an intraday low and new swing lo $80.453 before steadying.

A broad based cryptomarket rebound through the afternoon saw DASH move through to an intraday high $92.485 before easing back to $90 levels, the day’s high coming up short of the first major resistance level at $98.706.

Sunday’s new swing lo $80.453 reaffirmed the extended bearish trend, formed back at late April’s swing hi $547.967, with DASH now having failed to test the 23.6% FIB Retracement Level since late September.

At the time of writing, DASH was up 0.93% to $90.90, with moves through the early morning seeing DASH rise to a morning high $92.693 before easing back to a morning low $90.30, the day’s major support and resistance levels left untested early on.

For the day ahead, a move back through the morning high would support another run at $93 levels, while we would expect the day’s first major resistance level at $94.8777 to be left untested through the day, barring particularly positive news hitting the wires, investors likely to lock in any gains early should sentiment across the broader market fail to improve through the day.

Failure to move back through to $92 levels could see DASH give up the remainder of the morning’s gains, with a pullback through the morning low $90.3 to sub-$90 levels would likely bring $86 levels into play before any recovery, the day’s first major support level at $82.8457 unlikely to be tested barring particularly negative news hitting the wires.

Looking at the Technical Indicators

Major Support Level: $82.846

Major Resistance Level: $94.878

Fib 23.6% Retracement Level: $191

Fib 38% Retracement Level: $259

Fib 62% Retracement Level: $369