DASH Technical Analysis – Resistance Levels in Play – 04/10/18

DASH is on the move with the broader market, a hold on to $180 levels through the morning supportive of another rally later in the day.
Bob Mason
Crypto coins 77

Key Highlights

  • DASH fell by 2.07% on Wednesday, following Tuesday’s 2.95% slide, to end the day at $177.06.
  • A bearish day saw DASH fall through the day’s first major support level at $177.18 and the second major support level at $173.56 to an intraday low $172.59 before recovering.
  • An early morning intraday high $181.02 fell short of the day’s first major resistance level at $182.32.
  • The moves through the day reaffirmed the extended bearish trend formed at late April’s swing hi $547.97

How to Buy DASH

DASH Price Resistance

DASH fell by 2.07% on Wednesday, following on from Tuesday’s 2.95% slide, to end the day at $177.06, the day’s loss a 3rd consecutive day in the red for DASH.

A particularly bearish start to the day saw DASH fall from an early morning intraday high $181.02 to a morning low $175.26, the early reversal seeing DASH fall through the first major support level at $177.18 before finding support to move back to an afternoon high $178.61.

Pressure from the broader market ultimately weighed, with DASH sliding back through the first major support level at $177.18 and the second major support level at $173.57 to an intraday low $172.59 before moving back through to $177 levels, DASH unable to break back through the first major support level by the day’s end.

The moves through the day reaffirmed the extended bearish trend formed at late April’s swing hi $547.75, with DASH continuing to fall well short of the 23.6% FIB Retracement Level of $229.

At the time of writing, DASH was up 2.22% at $180.239, a bullish start to the day seeing DASH break through the first major resistance level at $181.19 to a morning high $181.662 before easing back, a start of a day morning low $176.999 steering clear of the day’s first major support level at $172.758.

For the day ahead, holding on to $180 levels through the morning would support another run at the day’s first major resistance level at $181.19, while we would expect DASH to fall short of $182 levels, with investors likely to lock in profits following the previous 3 days in the red.

Failure to hold on to $180 levels could see DASH give up some of the day’s gains, with any pullback through $176.889 likely to bring $175 levels into play before any recovery, the day’s first major support level at $172.759 unlikely to be tested on the day, barring materially negative news hitting the crypto wires.

Looking at the Technical Indicators

Major Support Level: $172.76

Major Resistance Level: $181.19

Fib 23.6% Retracement Level: $229

Fib 38% Retracement Level: $290

Fib 62% Retracement Level: $388

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