Dash ignores bear pressure: Spikes 3% to test $80.00 resistance


  • Dash stays in the green amid general market retracement.
  • Dash bulls target $100 psychological as long as they can break above $80.00 resistance.

Dash is the bull among a sloth of bears. The digital asset has sustained the gains in spite of the entire market trimming the gains. Cryptocurrencies spiked incredibly over the last weekend ending a period of devastating declines and low trading activity. The volatility seems to be back but Dash is currently giving a blind eye to record gains while all the top 20 digital assets stay in the red.

After it reclaimed the position above the resistance turned support at $74.00, DASH/USD pulled up further above $76.00. In fact, at press time, it is trading $79.389. It is only a matter of time before Dash jumps above $80.00. According to the technical levels on the chart, a correction above $80.00 will pave the way towards $90.00 and eventually bring the psychological $100 in sight.

For instance, the Relative Strength Index (RSI) in the 2-hour range has reentered the oversold region to show that the bulls have the control and will continue to influence the direction of the price in the short-term. The Moving Average Convergence Divergence (MACD) in the same range is heading north. The forming engulfing candle will soon break above $80.00.

In the event a reversal occurs, Dash will find refuge at $74.00 and the support zone at $66.00 but before that, the trendline support will try to limit the losses.

DASH/USD 2-hour range

 

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