DASH Technical Analysis – Support Levels in Play –06/06/19

DASH sees red in the early hours. A hold onto $147 levels would support a recovery later in the day, however…
Bob Mason
Dash cryptocurrency coin

Key Highlights

  • DASH gained 3.24% on Wednesday. Partially reversing a 6.64% slide from Tuesday, DASH ended the day at $147.836.
  • A late morning intraday high $149.181 saw DASH fall short of the first major resistance level at $153.685.
  • An early afternoon intraday low $141.931 saw DASH steer clear of the first major support level at $136.991.
  • The extended bearish trend, formed back at late April 2018’s swing hi $547.97, remained firmly intact. DASH continued to fall well short of the 38.2% FIB Retracement Level of $244, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Support

DASH gained 3.24% on Wednesday. Partially reversing a 6.64% slide from Tuesday, DASH ended the day at $147.836.

A relatively bullish morning saw DASH rise from a morning low $143.201 to a late morning intraday high $149.181. Falling short of the first major resistance level at $153.685, DASH fell to a mid-afternoon intraday low $141.931.

In spite of the pullback, DASH steered clear of the first major support level at $136.991 and moved back through to $147 levels at the day end.

Following a pullback in late May, the extended bearish trend formed back at late April 2018’s swing hi $547.97, remained firmly intact. Selling pressure at the start of June left DASH short of the 23.6% FIB Retracement Level of $172. For the bulls, a breakout from the 38.2% FIB would be needed to form a near-term bullish trend.

At the time of writing, DASH was down by 0.27% to $147.433. A mixed start to the day saw DASH fall to a morning low $146.495 before rising to a high $147.433.

DASH left the major support and resistance levels untested early on.

For the day ahead,

A hold onto $147 levels through the morning would support a run at the first major resistance level at $150.701.

DASH would need support from the broader market, however, to break out from $150 levels and target $153 levels.

Barring a broad-based crypto rally, DASH would likely come up short of the second major resistance level at $153.566.

Wednesday’s high $149.181 and the first major resistance level at $150.701 would limit any upside on the day.

Failure to hold onto $147 levels could see DASH fall deeper into the red. A pullback through the morning low $146.495 would bring the first major support level at $143.451 into play.

Barring a broad-based crypto sell-off, DASH would likely steer clear of sub-$140 levels and the second major support level at $139.066.

Looking at the Technical Indicators

Major Support Level: $143.451

Major Resistance Level: $150.701

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

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.