DASH Technical Analysis – Resistance Levels in Sight – 06/08/18DASH makes an early move, but will need to hold on through the morning to make another move in the afternoon to $213 levels.
- DASH rallied 3.26% on Sunday, reversing most of Saturday’s 4.49% slide, to end the day at $207.76.
- An early morning intraday low $200.32, coming off the back of Saturday’s sell-off, saw DASH steer clear of the first major support level at $196.23.
- A morning recovery saw DASH hit a late morning intraday high $208.05 that fell short of the first major resistance level at $209.94.
- For the week, DASH was down 12.71% to leave the extended bearish trend intact.
DASH Price Resistance
DASH gained 3.26% on Sunday, reversing most of Saturday’s losses, to end the week down 12.71% to $207.76.
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Tracking the broader market, an early morning fall to an intraday low $200.32 came from a continuation of Saturday’s sell-off, with DASH managing to steer clear of sub-$200 levels and the day’s first major support level at $196.23 before a broad based market rally kicked in.
DASH moved through to a late morning intraday high $208.05, before easing back through the early afternoon, the day’s high falling short of the first major resistance level at $209.94, to leave the extended bearish trend intact, the week’s 12.71% slide seeing DASH fall well short of the 23.6% FIB Retracement Level of $282, with bearish moves through the week leading to Saturday’s new swing lo $200.
For the bulls, a relatively range bound afternoon will have provided some comfort, with DASH managing to hold on to gains made through the morning and avoid a pullback to sub-$200 levels.
At the time of writing, DASH was up 2.75% to $211.04, with upward momentum through the second half of the day on Sunday continuing into the early hours of this morning, DASH rallying through the first major resistance level at $210.43 to a morning high $212.198 before easing back, a start of a day low $206.693 seeing DASH steer clear of the first major support level at $202.71.
For the day ahead, a move back through the morning high would support a run at $213 levels and the day’s second major resistance level at $213.1, while we will expect DASH to fall short of day’s third major resistance level at $220.83, with the extended bearish trend intact and providing plenty of resistance on the upside.
Failure to move back through the morning high could see DASH reverse the morning’s gains, with any fall through to sub-$205 levels likely to bring the day’s first major support level at $202.71 into play, sentiment across the broader market to dictate whether sub-$200 support levels will tested before any recovery.
Looking at the Technical Indicators
Major Support Level: $202.71
Major Resistance Level: $210.43
Fib 23.6% Retracement Level: $282
Fib 38% Retracement Level: $333
Fib 62% Retracement Level: $415