Dash price analysis: Bullish momentum stalls above $188; FuzeX and Dash sign an MOU for new payment cards

  • It appears that the selling pressure across the market is far from over.
  • Dash users to spend DASH coins anywhere anytime using the new FuzeX cryptocurrency payments cards.

The brief bullish momentum lost steam short of $192 yesterday leading lower corrections. Dash price danced with the 61.8% Fib level between the highs of $191.58 and lows of $170.76 until another breakout at 06:00 GMT on Friday morning. However, it appears that the selling pressure across the market is far from over. Little progress was made above $188, resulting in a slide below the above Fib level.

The trendline support came in handy at $182 where a weak bounce is currently ongoing. The broken support at the 61.8% Fibo is the immediate resistance while the 50 simple moving average is also hindering movement at $184.21. The trend is turning faintly bullish at the time of writing but for buyers, it is essential that a support above $184.00 is established.

A broader look at the chart shows that intraday resistance will be encountered at $186.18, $188.46 and $191.60. On the other hand, the support at $182.00 must be kept because DASH/USD is still on the verge of more downside breakdowns especially if the price drops below $180.

The latest news from Dash is that the company has entered into an MOU with FuzeX. The deal will both networks work together to launch the new FuzeX cryptocurrency payments cards. Users will be able to spend DASH coins using FuzeX cards anytime anywhere. The Twitter message reads:

“FuzeX and #DASH Coin have signed #MOU for partnership. Use your DASH coins anytime, anywhere, with #FuzeX cards! For more information, check out the article next Monday.”

DAH/USD 15’ chart

 

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