On the 12th of July, Dash found the bottom at $203, which is a strong psychological support. After rejection price went up and broke above the descending channel and the 50 Moving Average.

After closing above, price corrected slightly down, and rejected both, the Moving Average and the upper trendline of the descending channel. The support has been formed at $238 and DASH/USD went up again.

It seems that there is enough upside momentum for the Dash to continue moving higher, towards one of the Fibonacci retracement levels. First strong resistance is seen at 38.2% Fibs, while the second and key resistance is seen at 61.8% Fibs, that is $414.

Break above $414 should confirm long term uptrend that might send price to the new all time highs, but rejection should result in a strong corrective move down.

Chart

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