DASH Technical Analysis – Resistance Levels in Play –13/05/19

DASH makes an early move, though will need to take another run at the resistance levels to avoid a pullback later in the day.
Bob Mason
Dash cryptocurrency coin

Key Highlights

  • DASH rose by 0.73% on Sunday. Following on from a 9.83% rally from Saturday, DASH ended the week up 6.7% to $124.6.
  • A mid-morning intraday high $129.259 saw DASH come within range of the first major resistance level at $129.91 before easing back.
  • An early afternoon intraday low $117.805 saw DASH steer clear of the first major support level at $114.565.
  • The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact. 3 weeks in the red out of the last 5 left DASH well below the 23.6% FIB Retracement Level of $172, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Resistance

DASH rose by 0.73% on Sunday. Following on from a 9.83% rally on Saturday, DASH ended the week up 6.7% to $124.6.

A choppy morning saw DASH recover from a morning low $118.6 to strike a mid-morning intraday high $129.259 before sliding back.

Coming within range of the first major resistance level at $129.91, DASH slid back to an early afternoon intraday low $117.805.

Steering well clear of the major support levels, DASH managed to recover to $124 levels and close out the day in positive territory.

In spite of 10 weeks in the green out of the last 14, the extended bearish trend formed back at late April’s swing hi $547.97, remained firmly intact. DASH continued to sit well below the 23.6% FIB Retracement Level of $172 following mid-December’s swing lo $56.21.

For the bulls, 2 consecutive weeks in the green will have eased concerns of a more material pullback.

A move back through the current year high $140.1 will be needed, however, for DASH to begin reversing the extended bearish trend.

At the time of writing, DASH was up 3.11% to $128.481. A particularly bullish start to the day saw DASH rally from a morning low $124.137 to a high $132.3 before easing back.

The early rally saw DASH break through the first major resistance level at $129.971 before the pullback to sub-$129 levels.

For the day ahead,

A move back through the first major resistance level at $129.97 would support a run at the morning high $132.3. Barring a broad-based crypto rally, however, DASH will likely come up short of the second major resistance level at $135.342.

Failure to move back through the first major resistance level could see DASH give up the morning gains. A fall through to $123.8 levels would bring the first major support level at $118.517 into play.

Barring a crypto meltdown, however, DASH will likely steer clear of sub-$118 levels on the day.

Looking at the Technical Indicators

Major Support Level: $118.517

Major Resistance Level: $129.971

23.6% FIB Retracement Level: $172

38.2% FIB Retracement Level: $244

62% FIB Retracement Level: $360

Please let us know what you think in the comments below

Thanks, Bob

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Top Promotions

Top Brokers

IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US