- Dash price surged higher and broke the $100.00 and $110.00 resistance levels against the US Dollar.
- The price gained more than 12% and traded towards the $120.00 resistance level.
- There is a key connecting bullish trend line formed with support at $104.00 on the 4-hours chart of the DASH/USD pair (data feed from Kraken).
- The pair remains in a strong uptrend and it could continue higher towards the $125.00 and $130.00 levels.
DASH price rallied recently with heavy bullish moves against the US Dollar and . Buyers remain in full control and it seems like they are eyeing a test of the $125.00 level.
DASH Price Analysis
After swing moves, there were decent upsides in DASH, , Ethereum, bitcoin cash, and other major cryptocurrencies against the US Dollar. As discussed in the previous analysis, dash price did stay above the $84.00 support and later jumped above the $100.00 resistance. More importantly, there was a successful close above the $100.00 level and the 55 simple moving average (4-hours). Recently, the price gained bullish momentum and surged more than 12% above the $110.00 resistance.
The price even broke the $115.00 level and traded close to the $120.00 level. A swing high was formed at $119.64 and the price is currently consolidating gains. An initial support is near the 23.6% Fib retracement level of the last wave from the $104.50 low to $119.64 high. If there is an extended downside correction, the price may test the $112.00 support area. It coincides with the 50% Fib retracement level of the last wave from the $104.50 low to $119.64 high.
Additionally, there is a key connecting bullish trend line formed with support at $104.00 on the 4-hours chart of the DASH/USD pair. Therefore, if the price corrects lower, it could find a strong support near the $110.00 level. On the upside, an initial resistance is near the $120.00 level. If buyers remain in action, there are chances of a push above the $125.00 barrier. The next key resistance is around $134.00, above which the price may test $140.00.
Looking at the , DASH price clearly flew above the $110.00 resistance level. However, it won’t be easy for buyers to gain strength above the $120.00 level. Therefore, there might be a downside correction towards the $112.00 or $110.00 level before a fresh increase in the coming sessions.
Technical indicators
4 hours MACD – The MACD for DASH/USD is currently placed heavily in the bullish zone, with a positive bias.
4 hours RSI (Relative Strength Index) – The RSI for DASH/USD is currently near the extreme overbought levels.
Key Support Levels – $116.00 and $112.00.
Key Resistance Levels – $120.00 and $125.00.
Published at Mon, 01 Apr 2019 09:08:14 +0000
