Dash Price Technical Analysis – DASH/USD Holding Downtrend Resistance

Key Highlights

  • Dash price corrected a few points higher towards $90 against the US Dollar, but found resistance.
  • Yesterday’s highlighted resistance trend line at $90 on the hourly chart of DASH/USD (data feed from Poloniex) is holding gains at the moment.
  • The price might move down once again as long as the $90 resistance is intact.

Dash price (DigitalCash) remains under pressure against the US Dollar, as the DASH/USD pair failed to break a major resistance near $90.

Dash Price Downside Move

There was a minor recovery initiated in Dash price towards the $88 and $90 levels against the US Dollar. However, the price failed to break the $90 level, as it is a major hurdle. I mentioned in yesterday’s post that the price faces a major hurdle near $90, and it won’t be easy for buyers to break. The price did attempt a recovery, but failed near $88 and $90. There was also a failure near the 38.2% Fib retracement level of the last decline from the $107.2 high to $75.45 low.

However, the most important hurdle was near yesterday’s highlighted resistance trend line at $90 on the hourly chart of DASH/USD (data feed from Poloniex). The 100 hourly simple moving average is also positioned at $90, which is adding to the bearish bias. The price is once again moving lower, and there are chances of it retesting $80. If the current trend remains intact, the price might even trade near $75.

On the upside, the trend line resistance is now at $87 along with the 100 hourly SMA at $89. Sellers should keep an eye on the highlighted resistance near $87 if looking to sell.

Looking at the indicators:

Hourly MACD – The MACD for DASH/USD is now back in the bearish zone.

Hourly RSI – The RSI for DASH/USD is moving down, and remains below the 50 level.

Intraday Support Level – $80

Intraday Resistance Level – $87

 

Charts from Poloniex; hosted by Trading View

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly...

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