DASH price analysis: DASH/USD trading between moving average support and resistance; 61.8% Fibo is a major hurdle
|- DASH price rises by11.35%; bullish momentum to continue in the near-term.
- DASH/USD short-term support at $510, $450 zone will stop further declines.
DASH price continued with the bullish momentum that was started around $300, breaking above key resistance levels at $450, $500 and the recent $530. DASH/USD is recording a double-digit increase of 11.35% in the last 24 hours on Tuesday.
The price is exchanging hands between the moving averages on the daily chart, where the 200 SMA is offering resistance on the upside while the 100 SMA is a support to the downside. The 61.8% with the last swing high of $738 and a low of $285 will offer stiff resistance to the price as it recoils towards $600.
DASH price has formed a week support at $510 (50% Fibo); however, the stronger support rests at $450. The 100 SMA ($400) will be the last resort to stop declines in the event of a trend reversal. DASH price seeks higher consolidation to open the gate for more upside momentum to attack $600.
DASH/USD 720' chart
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