Dash Price Update: DASH/USD gigantic leaps subside, bulls deal with $110 critical resistance


  • Dash's only hope of avoiding impending declines towards $100 is to break past the triangle resistance.
  • Technical levels have aligned perfectly for a downward momentum including both the RSI and the MACD.

Dash massive 75% gain last week saw the crypto break pass key resistance zones including $100 and $110. The bullish momentum pushed forcefully towards the next hurdle at $120. However, the bearish pressure at $115 did not allow further upward movements. Instead, Dash dipped towards $100 but found support at $105.

At the time of writing, Dash is trading at $108.40, following a 1.75% loss on a day to day basis. The price is also at the apex of a symmetrical triangle pattern. If the triangle resistance is broken, there is a huge chance that Dash could jump above the short term resistance at $110. Moreover, gains to $120 resistance will depend on the ability of the bulls to break last week’s hurdle at $115.

Dash’s immediate downside is supported initially by the 50 SMA on the 1-hour chart. The triangle support (ascending trendline) is also contributing to the support. However, if the pattern’s support caves in, Dash could be facing a devastating correction towards $100. A slide beneath $100 could find support at the $90 level.

Technically, Dash is inclined to remain bearish in the near term. The RSI has lost upward momentum and is extending motion below 50. Similarly, the MACD can barely hold above the mean line, in addition to spotting a bearish cross.

DASH/USD 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Top 3 Coins Price Prediction: BTC upside capped at $11,600

Twitter and Square CEO Jack Dorsey has yet again reinstated his support for Bitcoin. Bitcoin options open interest is hovering at around 134,000 contracts. Crypto Bitlord accused Ripple of not doing anything to improve ...

More Bitcoin News

Neo Market Update: NEO charts yearly highs, as it readies for DeFi

The new Neo update increases the overall block size limit and improves overall network health. The 4-hour NEO chart has formed the head and shoulders pattern. The Neo Global Development (NGD) has ...

More NEO News

VeChain Price Analysis: VET looking to re-test $0.017 in the short-term

VET is currently trading at $0.0147 after a notable bounce from its low in September at $0.01. VET price is facing some resistance in the form of the 12-EMA at $0.0148. VeChain had a steep correction after its peak on August 7, and it’s ...

More VeChain news

Palm Beach Confidential releases new report highlighting Maker, Enjin Coin, and Numeraire

The newest confidential release from Palm Beach includes several coins like Maker, Enjin, and Numeraire. The company has been giving picks to investors for years now.

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC crystal ball gives bulls a faint flicker of hope

Bitcoin staged a healthy recovery this week. The pioneer digital currency price took off from the support area of $10,000 and touched the next psychological line of $11,000.

Read the weekly forecast

BTC

ETH

XRP