- Dash price remained supported on the downside above the $73 and $75 support levels against the US Dollar.
- There is a crucial range pattern formed with support at $76 on the hourly chart of DASH/USD (data feed from Poloniex).
- The price is now above the 100 hourly simple moving average at $76.5, which is a positive sign.
Dash price (DigitalCash) traded mostly in a range against the US Dollar, but it looks like DASH/USD is now looking to break $79 for more gains.
Dash Price Resistance
There were no major moves in Dash price against the US Dollar during the past two days, but it stayed above $72. There was a good support seen at $75, which held the downside move, and pushed the price higher. The price traded below the 38.2% Fib retracement level of the last wave from the $70 low to $80.80 high. However, the downsides were limited below $75.
The price at the moment is trading positively above $75. It looks like there is a crucial range pattern formed with support at $76 on the hourly chart of DASH/USD. On the downside, the 50% Fib retracement level of the last wave from the $70 low to $80.80 high also acting as a support. Moreover, there is a solid bullish trend line with support at $76 formed on the same chart.
The most important support is around the 100 hourly simple moving average at $76.5. So, we can say that the price remains supported on the downside above $76 and $77. As long as the price is above these levels, there is a chance of it breaking the range resistance at $79 for further gains.
Looking at the indicators:
Hourly MACD – The MACD for DASH/USD is mostly flat with no major breakout sign.
Hourly RSI – The RSI for DASH/USD is currently well above the 50 level.
Intraday Support Level – $76
Intraday Resistance Level – $79
Charts from Poloniex; hosted by Trading View
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