Dash cryptocurrency coin

DASH Technical Analysis – Support Levels in Play –10/07/19

Key Highlights

  • DASH fell by 2.4% on Tuesday. Reversing a 0.76% gain from Monday, DASH ended the day at $156.166.
  • An early morning intraday high $162.381 saw DASH break through the first major resistance level at $161.006 before hitting reverse.
  • DASH fell through the first major support level at $157.1 and second major support level at $155.002 to a late intraday low $152.04.
  • The extended bearish trend, formed back at late April 2018’s swing hi $547.97 remained firmly intact. DASH continued to fall short of the 23.6% FIB Retracement Level of $172, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Support

DASH slid by 2.4% on Tuesday. Reversing a 0.76% gain from Monday, DASH ended the day at $156.166.

A bullish start to the day saw DASH rally to an early morning intraday high $162.381 before hitting reverse.

DASH broke through the first major resistance level at $161.006 to come within range of the second major resistance level at $162.814.

Hitting reverse through the rest of the day, DASH slid to a late intraday low $152.04. The reversal saw DASH fall through the first major support level at $157.1 and second major support level at $155.002.

Support through the late part of the day led to recovery to $156 levels to limit the downside on the day.

The extended bearish trend formed back at late April 2018’s swing hi $547.97, remained firmly intact following the late June pullback. DASH continued to fall short of the 23.6% FIB of $172 after having failed to take a run at the 38.2% FIB of $244.

At the time of writing, DASH was up by 0.16% to $156.418.

A relatively bullish start to the day saw DASH rise from a morning low $155.695 to a high $157.773 before easing back.

The early morning moves saw DASH leave the major support and resistance untested early on.

DASH/USD 10/07/19 Daily Chart

For the day ahead

A move back through to $156.8 levels would support another run at $160 levels later in the day.

DASH would need the support of the broader market, however, to break out from this morning’s high $157.773.

Barring a broad-based crypto rally, DASH would likely come up well short of the first major resistance level at $161.684.

In the event of a broad-based crypto rally, a return to $162 levels could be on the cards before any pullback.

Failure to move through to $156.8 levels could leave DASH on the back foot on the day. A fall through the morning low $155.695 would bring $152 levels into play before any recovery.

Barring a crypto meltdown, DASH should steer clear of the first major support level at $151.344 on the day.

Looking at the Technical Indicators

Major Support Level: $151.344

Major Resistance Level: $161.684

23.6% FIB Retracement Level: $172

38.2% FIB Retracement Level: $244

62% FIB Retracement Level: $360

Please let us know what you think in the comments below

Thanks, Bob