DASH Technical Analysis – Resistance Levels in Play –18/02/19

DASH sees a bullish start to the day but faced resistance early to ease back. A break back through to $79 levels would give DASH a run at $80.
Bob Mason
Dash cryptocurrency coin

Key Highlights

  • DASH rose by 0.94% on Sunday. Following on from a 0.18% gain from Saturday, DASH ended the day at $78.521.
  • DASH broke through the first major resistance level at $78.95 to hit a late morning intraday high $79.457 before easing back.
  • DASH fell to a mid-day intraday low $76.62, sliding through the first major support level at $77.15.
  • The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact in spite of the weekend’s gains. DASH continued to sit 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 0.94% on Sunday. Following on from a 0.18% gain on Saturday, DASH ended the day at $78.521.

Tracking the broader market through the morning, DASH rallied to a late morning intraday high $79.457 before hitting reverse. The morning rally saw DASH break through the first major resistance level at $78.9523.

Reversing through the late morning, DASH fell through the first major support level at $77.1523 to an intraday low $76.62.

Steering clear of the second major support level at $76.5047, DASH recovered to $78 levels late in the day, support coming from the broader cryptomarket.

A rally at the start of the week saw DASH breakthrough to $80 levels before easing back, with 3 consecutive days in the green at the end of the week delivering a 5.6% gain for the week.

The extended bearish trend, formed at late April’s swing hi $547.967, remained firmly intact in spite of the week’s gains. DASH continues to fall well short of the 23.6% FIB of $172 following the 15th December new swing lo $56.214. Year-to-date, DASH was up 1.14%, a 2nd consecutive week in the green wiping out losses from earlier in the year.

At the time of writing, DASH was up 0.46% to $78.88. A choppy start to the day saw DASH rally to an early morning high $79.456 before sliding to a morning low $77.971. The early moves saw DASH come within range of the first major resistance level at $79.7787, whilst steering well clear of the major support levels.

For the day ahead, a move back through to $79 levels would give DASH another run at the first major resistance level at $79.7787. For a break-through to $80 levels, support from the broader market would be needed, with DASH needing to make a move early in the day for a sustainable rally.

Failure to move back through to $79 levels could see DASH hit reverse later in the day. A pullback through to sub-$78 levels would see DASH fall through the morning low $77.971 to sub-$77.5 levels before any recovery.

We would expect DASH to steer clear of sub-$77 levels and the first major support level at $76.9417 in the event of a reversal.

Looking at the Technical Indicators

Major Support Level: $76.9417

Major Resistance Level: $79.7787

Fib 23.6% Retracement Level: $172

Fib 38% Retracement Level: $244

Fib 62% Retracement Level: $360

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
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.
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.