• Dash price is currently contained inside a parallel channel on the 1-hour chart.
  • The digital asset faces a critical resistance level before it can climb towards $103.

After a brutal 16% drop on January 1, Dash has been trying to recover and managed to establish an ascending parallel channel on the 1-hour chart. Dash bulls aim for $103 but need to crack a critical resistance level at $95 first.

Dash price can rise towards $100 if bulls can push it above $95

On the 1-hour chart, Dash has established a parallel channel with the resistance trendline at $95. Bulls have defended the 26-EMA and are hoping for a rebound towards the resistance upper boundary. 

dash price

DASH/USD 1-hour chart

If Dash can recover above the 12-EMA, it will quickly jump towards $95. A breakout above this point will drive Dash price to $100 and eventually as high as $103 if the bullish momentum continues strong. 

dash price

DASH IOMAP chart

The In/Out of the Money Around Price (IOMAP) chart shows a strong resistance area between $92 and $95, which adds credence to the bullish outlook. There is a lot of support on the way down starting at $91. 

dash price

DASH New Addresses chart

There are, however, some concerning signs for the bulls. The number of new addresses joining the network has dropped significantly in the past week by 13.5%. This indicates that new investors are losing interest in Dash. If the bears can push Dash price below the 26-EMA at $91, the digital asset can drop to $87.

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