Dash Market Update: DASH/USD triangle breakout action shifts focus to $120
|- Dash triangle breakout yields immensely, pushing the price above the critical $115.
- Technical levels remain bullish, ignoring the RSI overbought condition.
Dash is the most bullish cryptocurrency on Monday during the Asian session. The bullish wave emanates from the weekend action that saw the price forcefully rise above the confines of a falling triangle pattern. Dash also jumped above the simple moving averages, encouraging the bulls to increase the entries, pulling Dash above $110 and $115, respectively.
Dash has changed focus to the next significant hurdle at $120 even though it is back to trading marginally below $115. Various technical levels show that Dash is ready for more action, starting with the Relative Strength Index (RSI)’s position within the overbought territory. Similarly, the bullish action is supported by the start of a new bullish session in the Elliot Wave Oscillator.
As far as support is concerned, $110 has transformed into a key area with high congestion of the bulls waiting to buy DASH. Other key areas of support to keep in mind are the 50 SMA currently at $105 on the 1-hour chart and the 100 SMA at $10.79. If push comes to a shove and Dash drops under $100, the only key support to halt the losses is $90.
DASH/USD 1-hour chart
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