Key Highlights
- DASH rose by 3.33% on Monday. Partially reversing a 10.84% slide from Sunday, DASH ended the day at $81.835.
- An early morning intraday low $78.923 saw DASH steer well clear of the first major support level at $73.415.
- Rising to a late afternoon intraday high $83.257, DASH fell short of the first major resistance level at $89.142, before easing back.
- The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact in spite of a 3rd consecutive week in the green. DASH continued to sit well below the 23.6% FIB Retracement Level of $172, following 15th December’s swing lo $56.214.
DASH Price Resistance
DASH rose by 3.33% on Monday. Partially reversing a 10.84% slide from Sunday, DASH ended the day at $81.835.
DASH eased to an early morning pullback to an intraday low $78.923 before finding support. Steering clear of the first major support level at $73.415, DASH rose to a late afternoon intraday high $83.257.
Falling short of the first major resistance level at $89.142, DASH eased back to $81 levels, with selling pressure from across the broader market weighing late in the day.
The extended bearish trend, formed at late April’s swing hi $547.967, remained firmly intact in spite of the week’s gains. DASH continued 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 5.41%, supported by 3 consecutive weeks in the green. A 1.2% gain for last week came in spite of Sunday’s sell-off.
At the time of writing, DASH was up down by 2.69% to $79.631. A bearish start to the day saw DASH fall from a morning high $81.705 to a morning low $79.478. The pullback saw DASH call on support at the first major support level at $79.42. DASH fell well short of the first major resistance level at $83.75 in the early hours.
For the day ahead,
A move back through $81.338 would be needed to bring $83 levels into play. Baring a broad-based rally, we would expect the first major resistance level at $83.75 and Monday’s high $83.26 to prevent a run at $85 levels on the day. Sentiment across the broader-market would need to materially improve to support a break through the day’s major resistance levels. The third major support level at $90.01 would likely leave DASH short of Sunday’s high $92.77, in the event of a breakout.
Failure to move back through to $81.338 would likely see DASH fell deeper into the red before any recovery. We would expect the DASH to fall through the day’s first major support level at $78.42 to $77 levels. Heavier losses across the broader market could bring the second major support level at $77.00 into play. We would expect sub-$77 support levels to be left untested, however.
Looking at the Technical Indicators
Major Support Level: $79.420
Major Resistance Level: $83.754
23.6% FIB Retracement Level: $172
38% FIB Retracement Level: $244
62% FIB Retracement Level: $360