Stocks Fall but Close Week Positive

Quick Update

Dear readers, before we get into today’s news and stock analysis and because I’ve been receiving many questions from you, I’d like to first clarify what I mean by BUY, SELL, or HOLD. Here, I am largely referring to outperforming the S&P 500. When the conditions favor adding risk and buying the U.S. market overall, I will be issuing an “alert.” I am not sure yet whether I will be moving to entry prices or target prices & stop losses.

In the current market environment, when fundamentals have essentially fallen to the wayside, I prefer to invest directionally rather than being married to certain levels in the market. In my view, trading with specific figures in mind can hurt long term returns if you do not let your winners run and cut your losers fast. I do update my calls daily, though, and any changes will be highlighted! Thank you again for being such great readers – I truly value your trust. Stay tuned for updates and let me know if you have any other questions!

Let’s begin Monday by reviewing what happened at the close of last week.

Volatile trading occurred on Friday (Dec. 18), with Congress struggling to close out a stimulus package, causing stocks to slip from record highs.

News Recap

  • The Dow Jones fell 124.32 points, or 0.4%, to 30,179.05. At its session low, the index fell more than 270 points. The S&P 500 also dipped 0.4% and snapped a three-day winning streak. The Nasdaq fell only 0.1%, while the small-cap Russell 2000 fell 0.41%.
  • While Congress claims to be on the brink of a $900 billion stimulus deal , it is working against time. In public, leaders are speaking optimistically that a deal will pass, however, there are last-minute partisan disputes on direct payments, small business loans, and a boost to unemployment insurance
  • There was an unusually large amount of trading volume on Friday (Dec. 18) as Tesla (TSLA) was set to officially join the S&P 500 after the closing bell. Tesla is being added to the index in one fell swoop, marking the largest rebalancing of the S&P 500 in history. After surging 700% in 2020, from day 1, Tesla will be the seventh-largest company in the S&P in terms of market cap.
  • The FDA officially approved Moderna’s vaccine for emergency use. Government officials plan to ship nearly 6 million doses of Moderna’s vaccine in addition to the 2.9 million Pfizer (PFE) doses already in distribution.
  • Despite Friday’s (Dec. 18) losses, the indices closed out the week with mild gains. The Dow closed up 0.4%, the S&P 500 advanced 1.3%, and the NASDAQ closed up 3.1%. The small-cap Russell 2000 continued its strong run as well and gained 2.5% for the week.
  • Meanwhile, the pandemic has reached its darkest days and is hitting unforeseen and unprecedented numbers . The U.S. shattered the previous record of daily deals on Wednesday (Dec. 16), recording over 3,600 deaths. As of Friday (Dec. 18), the country has also now surpassed 17 million confirmed cases, with death totals soaring past 300,000. California, Illinois, Pennsylvania, and Texas alone reported more than 1,000 deaths in the past week.

While the general focus between both investors and analysts appears to be on the long-term potential in 2021, there are certainly short-term concerns. Inevitably, there will be a short-term tug of war between good news and bad news. For now, though, the main catalyst is the stimulus package. If a stimulus package is passed before Christmas, the markets could benefit. If it doesn’t, markets will drop. Time is running short and we may be at a fork in the road.

According to Luke Tilley , chief economist at Wilmington Trust, another stimulus package was needed to keep the economic recovery from stalling before the mass distribution of a vaccine.

“With the continued rising cases and mass vaccinations still a ways out, we could see some further weakness in jobs and even a flattening where we’re not even adding jobs at all … that’s absolutely a possibility for this next jobs report,” Tilley said. “And if we were to not get another stimulus package, you’re going to have 10 to 11 million people fall off the unemployment rolls right away, and that would hit spending as well.”

However, despite near-term risks, the overwhelming majority of market strategists are bullish on equities for 2021, especially for the second half of the year. While there may be some short-term worries, the consensus between market strategists is to look past the short-term pain and focus on the longer-term gains. Although the economic recovery could stutter in the early half of the year, the general focus is on the second half of the year when we could potentially return to normal. Many analysts expect double-digit gains to continue in 2021, with strategists in a CNBC survey expecting an average 9.5% rise in 2021 for the S&P 500.

Additionally, according to Robert Dye, Comerica Bank Chief Economist :

“I am pretty bullish on the second half of next year, but the trouble is we have to get there…As we all know, we’re facing a lot of near-term risks. But I think when we get into the second half of next year, we get the vaccine behind us, we’ve got a lot of consumer optimism, business optimism coming up and a huge amount of pent-up demand to spend out with very low interest rates.”

In the short-term, there will be some optimistic and pessimistic days. On some days, the broader “pandemic” market trend will happen, with cyclical and recovery stocks lagging, and tech and “stay-at-home” stocks leading. Sometimes a broad sell-off based on fear or overheating may occur as well. On other days, there will be a broad market rally due to optimism and 2021-related euphoria. Additionally, there will be days (and in my opinion this will be most trading days), when markets will trade largely mixed, sideways, and reflect uncertainty. But if we get an early Christmas present and a stimulus package passes, all bets are off. It could mean very good things for short-term market gains.

Despite the optimistic potential, the road towards normalcy will hit inevitable speed bumps. While it is truly hard to say with conviction that a short-term rally or bear market will come, I do believe that some consolidation and a correction could be possible in the short-term on the way towards another strong rally in the second half of 2021.

Outside of economic damages and an out-of-control virus, the market itself is flashing potential signs of over-optimism and euphoria. In its most recent survey, for example, the American Association of Individual Investors (AAII) found that 48.1% of investors identified as being bullish – well above the historical average of 38%. With an overabundance of cocky, euphoric, and optimistic investors, the market becomes more vulnerable to selling pressure. Corrections are very common though. Only twice in the last 38 years have we had years WITHOUT a correction (1995 and 2017). Because there has not been one since the lows of March, we could be due for one in the early part of 2021.

Therefore, to sum it up:

While there is long-term optimism, there are short-term concerns. A short-term correction in early 2021 is very possible, but I do not believe, with certainty, that a correction above ~20% leading to a bear market will happen.

Has the Nasdaq Officially Overheated?

Don’t ever let anyone tell you “this time is different” if fears of the dot-com bubble are discussed. History repeats itself, especially in markets. I have many concerns about tech valuations and their astoundingly inflated levels. The recent IPOs of DoorDash (DASH) and AirBnB (ABNB) reflect this. I believe that more pullbacks along the lines of Wednesday, December 9th’s session could inevitably come in the short-term.

Pay close attention to the RSI. While an overbought RSI does not automatically mean a trend reversal, I called keeping a very close eye on this for the Nasdaq. The December 9th Nasdaq pullback, after it exceeded a 70 RSI, reflects that.

The RSI is now above 70. Monitor this . With unstable volume to start the week on the horizon, as Tesla officially joins the S&P 500, I am calling for some short-term volatility. I did not make a conviction call last week but I am not making that mistake again. Because the RSI is officially above 70, and because I foresee unstable volume thanks to Tesla, take profits and SELL some shares, but do not fully exit .

While tech has overheated, there is still some very real long-term optimism based on stimulus hopes and 2021’s potential.

Furthermore, on pessimistic days, having Nasdaq exposure is crucial because of the “stay-at-home” trade.

For an ETF that attempts to directly correlate with the performance of the NASDAQ, the Invesco QQQ ETF (QQQ) is a good option.

Thank you for reading today’s free analysis. I encourage you to sign up for our daily newsletter – it’s absolutely free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to the premium daily Stock Trading Alerts as well as our other Alerts. Sign up for the free newsletter today!

For a look at all of today’s economic events, check out our economic calendar.

Thank you.

Matthew Levy, CFA
Stock Trading Strategist
Sunshine Profits: Effective Investment through Diligence & Care

* * * * *

All essays, research, and information found above represent analyses and opinions of Matthew Levy, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Matthew Levy, CFA, and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Levy is not a Registered Securities Advisor. By reading Matthew Levy, CFA’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading, and speculation in any financial markets may involve high risk of loss. Matthew Levy, CFA, Sunshine Profits’ employees, and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

The Crypto Top 20 – Who Looks Good?

The Landscape

It’s been quite a year for the crypto markets. While some managed to forge ahead, it has been a mixed story for the top 20.

Market volatility returned through the first 8 months of the year, following a lull in 2018 that saw many of the major cryptos flat-line.

What has been evident throughout this year is the investor’s continued lack of interest in platform success and advancement.

Granted some of the new entries into the top 20 can be attributed to success stories, but these have come at a price for others that have seen increased adoption in the real world.

Looking at the lie of the land, the top 20 can really be classified into a number of sectors…

Alternative to fiat money

Joining Bitcoin as an alternative to fiat money are Bitcoin Cash ABC, Bitcoin Cash SV, Litecoin, EOS, Monero’s XRM, DASH, and Iota.

For now, the Bitcoin clan and Litecoin continue to garner the greatest amount of interest, not just from investors, but also from those looking to shun fiat money.

The alternatives, however, may need to be considered as the real world continues its metamorphosis into the digital world.

Monero’s XMR found strong support through the summer to hit a current year high $120 in June before pulling back. While up by 73% year-to-date, Monero’s XMR was down by 833% from a Dec-2017 all-time high $469.5.

For the current year, Monero’s XMR was down by 34% from its current year high $120 struck back in June.

As a Bitcoin competitor, Monero’s XMR has found strong support from the fact that remitters and receivers and amounts are concealed. One downside to this functionality would be any change in the regulatory landscape that makes disclosure mandatory. Since chatter from governments has abated, there is room for growth.

It goes without saying that Bitcoin is also an attractive option. While transaction times continue to question its survival, next year’s halving event should be enough to deliver for longer-term holders who can ride out the volatility.

For opportunity investors, Bitcoin is down by just 48.8% from its all-time high $19,891 and by 26% from its current year high $13,764. That makes Monero’s XMR an even more enticing alternative…

Smart Contracts

Another popular sector in the top 20, with the following coins involved in servicing smart contracts: Cardano’s ADA, Chainlink, Ethereum, Ethereum Classic, NEO, and Tezos.

While Ethereum continues to hold onto the number 2 spot by market cap, a drying ICO market has limited any major upside.

That leaves coins focused solely on delivering an alternative to fund ICOs on the back foot for now.

Regulatory uncertainty has continued to leave the ICO market baron relatively to late 2017 and early 2018.

While greater adoption and the need for smart contracts increases, a rebound in the ICO market is likely to be the key to Ethereum and its competitors’ futures.

While the cryptos have found support through the current year, there’s been a marked pullback from June highs.

For the current year, Chainlink (“LINK”) and Tezos (“XTZ”) have outgunned the pack, with gains of 644% and 151% respectively.

While seeing sizeable gains year-to-date, the pair is down by 56% and by 91% from their all-time highs. The pullback does suggest some significant upside should market conditions improve. Support would need to come from the news wires, however.

Looking across to Ethereum and Ethereum Classic, the pair are down by 48.7% and by 26.9% from their current year highs. Both are down by more than 80% from their all-time highs.

The ICO market and prospective ICO volumes would need to materially rise, however, for Ethereum to have a chance at returning to the dizzying heights of $1,420 struck in early 2018.

For now, the inclusion of the newer coins on more established platforms would be the play.

Payment Platform

Amongst the top 10, payment platforms form a small proportion of the total crypto market cap.

Ripple and Stellar have been the long-established pair, with the Ripple team having made solid progress in delivering a global payment platform system.

In spite of the adoption, the pair have struggled through the current year, bucking the trend amongst the broader market.

Year-to-date, Ripple’s XRP and Stellar’s Lumen were down by 25.4% and 40.2% and by 91.8% and 85.5% from their all-time highs.

Ripple’s XRP has seen its price tumble following news of a lawsuit against Ripple on whether it should be classified as a security. Adding to the volatility was news of a large release of tokens into the crypto market.

For those looking for an investment opportunity, Ripple’s XRP looks to have legs and survivor bias in the crypto world. That is assuming of course that it can settle the legal disputes that are currently pinning back prices.

Looking at functionality alone, transaction speeds and low fees make Ripple’s XRP an attraction option at current levels. Just this week, Ripple was reported to have had over 100 transactions per second, up from 10 transactions per second back in January.

The Ripple platform has the ability to handle 1,500 transactions per second. The ever increasing adoption of the Ripple platform can only be a good thing.

Relative newcomer, Tron’s TRX has also struggled year-to-date, falling by 8.3%. While down by 56.9% from its current year high, Tron’s TRX has coughed up 98.3% since its all-time high.

A continued rise in transactions suggests a possible turnaround for the team at Tron. Negative chatter about the Tron team has led to the downside.

And finally,

Crypto Exchanges

With just Binance Coin and UNUS SED LEO to choose from, Binance Coin would certainly be the head-turner.

While both are down by 40% from their current year highs, Binance Coin is up a whopping 304% year-to-date.

The upside came, not only from its status as one of the largest cryptocurrency exchanges, by volume, but also on its progress at eating into Ethereum’s ICO market share.

A continued rise in exchange volumes would certainly be a boon for Binance Coin. LEO could garner some attention though, but for different reasons.

UNUS SED LEO is an exchange token that was launched earlier this year. iFinex launched LEO to plug an $850m hole in Bitfinex. The hole resulted from a government seizure of Crypto Capital assets.

iFinex has been clear that they will use the funds, if recovered, to repurchase and burn the LEO tokens.

There is some uncertainty over whether iFinex will be able to recoup its $850m. Any hint of imminent success and expect LEO prices to go through the roof…

There are a lot of websites comparing the best crypto exchanges, some of them stand out due to being there first, like Coinmarketcap, some cover a large variety of exchanges like FXEmpire.com and some have an innovative design like Cryptimi.

Risk & Reward

As is the case with any of the cryptocurrencies, a balanced risk and reward strategy is advised. There is significant volatility in the market place. While the majors are well below their all-time highs, the threat of heightened government oversight and material shift in the regulatory landscape remains.

Some cryptos are likely to be affected more than others. For instance, the pending SEC decisions on the Bitcoin ETFs could go in favor of Bitcoin and drive demand.

For Bitcoin, there is also next year’s halving event to factor in. SEC approvals ahead of the predicted 24th May 202 halving event would be quite a boon for Bitcoin holders.

Protecting the downside is key, however, for those not in it for the long haul. Monitoring volumes and the news wires are key for any investor holding a cryptocurrency or token.

There remains an unpredictability to the crypto market that delivers the volumes and sizeable gains and losses. The news wires certainly contribute to the swings.

In Summary

Adoption and listing on global exchanges continue to be the key drivers for the broader market. There are a number of scenarios, however, that would favor some of the top 20 more than others.

Bitcoin, UNUS SED LEO, Ripple’s XRP and Binance Coin certainly stand out.

For those looking to go beyond the top 20, exchanges listings is the play.

DASH Technical Analysis – Support Levels in Play –14/08/19

Key Highlights

  • DASH fell by 3.55% on Tuesday. Following on from a 1.79% decline on Monday, DASH ended the day at $100.652.
  • An early morning intraday high $108.058 saw DASH break through the first major resistance level at $106.43.
  • A mid-afternoon intraday low $100.056 saw DASH fall through the first major support level at $102.408 and second major support level at $100.385.
  • 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 fell by 3.55% on Tuesday. Following on from a 1.79% decline on Monday, DASH ended the day at $100.652.

A choppy start to the day saw DASH rally from an early morning low $103.051 to an early morning intraday high $108.058.

Steering clear of the major support levels, DASH broke through the first major resistance level at $106.428. The second major resistance level at $108.425 came into play before a broad-based crypto sell-off kicked in.

The sell-off saw DASH slide to a mid-afternoon intraday low $100.056. DASH fell through the first major support level at $102.408 and second major support level at $100.385.

Steering clear of sub-$100 was key 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 and July 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 down by 0.65% to $100.00. A bearish start to the day saw DASH fall from an early morning high $101.291 to a low $99.734 before finding support.

DASH left the major support and resistance levels untested early on.

DASH/USD 14/08/19 Daily Chart

For the day ahead

DASH would need to move through to $102.90 levels to support a run at the first major resistance level at $105.788.

Support from the broader market would be needed, however, for DASH to take a run Tuesday’s high $108.058.

Barring a broad-based crypto rally on the day, DASH would likely fall short of the second major resistance level at $110.924.

Failure to move through to $102.922 levels could see DASH fall deeper into the red. A fall back through the morning low $99.734 would bring the first major support level at $97.786 into play.

Barring a crypto meltdown, however, DASH should steer clear of sub-$97 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $97.786

Major Resistance Level: $105.788

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

DASH Technical Analysis – Support Levels in Play – 06/08/19

Key Highlights

  • DASH rallied by 3.34% on Monday. Reversing a 0.59% loss from Sunday, DASH ended the day at $110.647.
  • A start of a day intraday low $106.909 saw DASH steer well clear of the first major support level at $103.98.
  • A late morning intraday high $113.243 saw DASH break through the first major resistance level at $107.9 and second major resistance level at $109.58.
  • 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 rallied by 3.34% on Monday. Reversing a 0.59% loss from Sunday, DASH ended the day at $110.647.

Tracking the broader market through the morning, DASH rallied from an intraday low $106.909 to an intraday high $113.243.

The morning rally saw DASH break through the first major resistance level at $107.9 and second major resistance level at $109.58. The third major resistance level at $113.5 capped the upside on the day. DASH steered well clear of the first major support level at $103.98 at the start of the day.

A choppy 2nd half of the day saw DASH pullback to $109 levels before breaking back through the second major resistance level.

The extended bearish trend formed back at late April 2018’s swing hi $547.97, remained firmly intact following the late June and July 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 down by 1.64% to $108.833. A bearish start to the day saw DASH fall from a morning high $110 to a low $108.833.

DASH left the major support and resistance levels untested in the early part of the day.

DASH/USD 06/08/19 Daily Chart

For the day ahead

DASH a move back through to $110.27 levels would support a run at the first major resistance level $113.62.

Support from the broader market would be needed, however, for DASH to break out from $110 levels.

Barring another broad-based crypto rally, Monday’s high $113.24 and the first major resistance level at $113.62 would likely limit any upside.

Failure to move back through to $110.27 levels could see DASH fall deeper into the red. A fall through to $107 levels would bring the first major support level at $107.29 into play.

Barring a broad-based crypto sell-off, however, DASH should steer clear of Monday’s low $106.909.

Looking at the Technical Indicators

Major Support Level: $107.29

Major Resistance Level: $113.62

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

DASH Technical Analysis – Support Levels in Play –29/07/19

Key Highlights

  • DASH fell by 1.57% on Sunday. Following on from a 3.66% slide from Saturday, DASH ended the day at $108.217.
  • A mid-morning intraday high $111.578 saw DASH fall short of the first major resistance level at $116.26 before hitting reverse.
  • A late intraday low $102.414 saw DASH fall through the first major support level at $106.80 and second major support level at $102.68.
  • 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 fell by 1.57% on Sunday. Following on from a 3.66% slide on Saturday, DASH ended the week down 9.06% to $108.217.

A relatively bullish start to the day saw DASH strike a mid-morning intraday high $111.578 before hitting reverse.

Falling well short of the first major resistance level at $116.26, DASH tumbled to a late intraday low $102.414.

The reversal saw DASH slide through the first major support level at $106.80. Finding support at the second major support level at $102.68, DASH recovered to $108 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 and July 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 down 0.38% to $107.802. A mixed start to the day saw DASH fall to an early morning low $106.714 before striking a morning high $109.638.

Steering clear of the major support and resistance levels early on, DASH eased back to $107 levels.

DASH/USD 29/07/19 Daily Chart

For the day ahead

DASH would need to hold above $107.4 levels through the morning to support a recovery later in the day.

A move back through the morning high $109.638 would bring the first major resistance level at $112.392 into play.

DASH would need the support of the broader market, however, to break out from $110 levels.

Barring a broad-based crypto rally, Sunday’s high $111.578 would likely limit any upside on the day.

Failure to hold above $107.4 levels could see DASH slide deeper into the red. A fall through the morning low $106.714 to $105 levels would bring the first major support level at $103.228 into play.

Barring a broad-based crypto meltdown, however, DASH should steer clear of sub-$100 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $103.228

Major Resistance Level: $112.392

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

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

Key Highlights

  • DASH rallied by 7.74% on Thursday. Following on from a 1.14% gain from Wednesday, DASH ended the day at $110.747.
  • An early afternoon intraday low $99.90 saw DASH steer clear of the first major support level at $96.22.
  • A late afternoon intraday high $112.04 saw DASH break through the first major resistance level at $108.04 before easing back.
  • 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 Resistance

DASH rallied by 7.74% on Thursday. Following on from a 1.14% gain on Wednesday, DASH ended the day at $110.747.

A particularly choppy morning saw DASH fall from a morning high $105.013 to an early afternoon intraday low $99.90.

DASH steered well clear of the major support and resistance levels before finding support from a broad-based crypto rally.

The broad-based crypto rally saw DASH surge to a late afternoon intraday high $112.04 before easing back.

DASH broke through the first major resistance level at $108.04. Whilst falling short of the second major resistance level at $113.69, a hold onto $110 levels was key at the day end.

The extended bearish trend formed back at late April 2018’s swing hi $547.97, remained firmly intact following the late June and July 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 down by 1.53% to $109.054. A bearish start to the day saw DASH fall from a morning high $110.618 to a low $109.054.

DASH left the major support and resistance levels untested early on.

DASH/USD 19/07/19 Daily Chart

For the day ahead

A move back through to $110 levels would support a run at the first major resistance level at $115.22. DASH would need the support of the broader market, however, to break out from Thursday’s high $112.04.

Barring a broad-based crypto rally, Thursday’s high and the first major resistance level at $115.22 should limit any upside on the day.

Failure to move back through to $110 levels could see DASH slide deeper into the red. A pullback through to sub-$107.50 levels would bring the first major support level at $103.09 into play.

Barring a broad-based crypto meltdown, however, DASH should steer of sub-$100 levels on the day.

Looking at the Technical Indicators

Major Support Level: $103.09

Major Resistance Level: $115.22

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

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

DASH Technical Analysis – Support Levels in Play –02/07/19

Key Highlights

  • DASH fell by 0.51% on Monday. Following on from an 8.37% slide on Sunday, DASH ended the day at $154.47.
  • An early morning intraday high $160.9 saw DASH fall short of the first major resistance level at $166.92 before hitting reverse.
  • DASH fell through the first major support level at $149.00 to a late afternoon intraday low $145.95.
  • 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 fell by 0.51% on Monday. Following on from an 8.37% slide on Sunday, DASH ended the day at $154.47.

A bullish start to the day saw DASH rise to an early morning intraday high $160.9 before hitting reverse.

Falling well short of the first major resistance level at $166.92, DASH slid to a mid-afternoon intraday low $145.95.

The reversal saw DASH fall through the first major support level at $149.00.

Finding support late in the day, DASH broke back through the first major support level to $154 levels to limit the downside on the day.

Following a 51% gain in May DASH fell by 6.2% in June, with a bearish end to the month seeing DASH slide from a June high $187.65 to $150 levels. The reversal came after a recovery from a bearish start to the month that had seen DASH slide to a June low $135.1.

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 down by 2.29% to $150.94. A bearish start to the day saw DASH fall from a morning high $154.05 to a low $150.84 before steadying.

DASH left the major support and resistance levels untested early on.

DASH/USD 02/07/19 Daily Chart

For the day ahead

A move back through to $154 levels would signal a possible rally later in the day. DASH would need the support of the broader market, however, to break out from $154 levels.

In the event of a broad-based market recovery, a move through to $158 levels would bring the first major resistance level at $161.6 into play.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $160.9 should limit any upside.

Failure to move through to $154 levels could see DASH slide deeper into the red. A fall through the morning low $150.84 would bring the first major support level at $146.65 into play.

Barring a crypto meltdown, DASH should steer clear of sub-$140 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $146.65

Major Resistance Level: $161.60

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

DASH Technical Analysis – Support Levels in Play –24/06/19

Key Highlights

  • DASH fell by 1.03% on Sunday. Partially reversing a 4.84% gain from Saturday, DASH ended the week up 10.3% to $173.211.
  • DASH steered clear of the first major support level at $157.938 with a late morning intraday low $169.391.
  • A late intraday high $179.015 saw DASH fall short of the first major resistance level at $188.315.
  • The extended bearish trend, formed back at late April 2018’s swing hi $547.97, remained firmly intact. DASH continued to fall well short of the 38.2% FIB Retracement Level of $244, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Support

DASH fell by 1.03% on Sunday. Partially reversing a 4.84% rally from Sunday, DASH ended the week up 10.3% to $173.211.

A bearish start to the day saw DASH fall to a late morning intraday low $169.391 before finding support.

Whilst steering clear of the first major support level at $157.938, fell through the 23.6% FIB of $172 before finding support. DASH recovered through the afternoon to a late intraday high $179.015.

In spite of the late recovery, DASH fell well short of the first major resistance level at $188.315 before falling back to a 2nd half of a day low $170.895. The late pullback saw DASH fall back through the 23.6% FIB of $172 before recovering to $173 levels.

Following a 51% gain in May that led to a current year high $198.89, it’s been a mixed month in June. A bearish start to the month saw DASH slide to a June low $135.1 before finding recovering.

For the current month, DASH was up 4.34% to the end of Sunday, with last week’s rally pulling DASH into the green.

The extended bearish trend formed back at late April 2018’s swing hi $547.97, remained firmly intact in spite of the recovery. DASH continues to fall well short of the 38.2% FIB of $244.

At the time of writing, DASH was down by 1.26% to $171.024. A bearish start to the day saw DASH fall from an early intraday high $172.613 to a low $169.286.

Whilst steering clear of the major support and resistance levels, DASH fell back through the 23.6% FIB of $172.

DASH/USD 24/06/19 Daily Chart

For the day ahead,

A move back through the 23.6% FIB of $172 to $173.90 levels would support a run at the first major resistance level at $178.35.

DASH would need support from the broader market, however, to break out from $174 levels on the day.

Barring a broad-based crypto rebound, DASH would likely fall well short of $178 levels on the day.

Failure to move back through the 23.6% FIB of $172 could see DASH slide back to sub-$170 levels.

Barring an extended sell-off through the day, however, DASH will likely steer clear of the first major support level at $168.73.

Looking at the Technical Indicators

Major Support Level: $178.35

Major Resistance Level: $168.73

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

DASH Technical Analysis – Support Levels in Play –14/06/19

Key Highlights

  • DASH fell by 1.13% on Thursday. Partially reversing a 6.28% rally from Wednesday, DASH ended the day at $154.15.
  • A late morning intraday high $159.87 saw DASH fall short of the first major resistance level at $161.19.
  • A late intraday low $153.72 saw DASH steer clear of the first major support level at $149.59.
  • The extended bearish trend, formed back at late April 2018’s swing hi $547.97, remained firmly intact. DASH continued to fall well short of the 38.2% FIB Retracement Level of $244, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Support

DASH fell by 1.13% on Thursday. Partially reversing a 6.28% rally from Wednesday, DASH ended the day at $154.15.

A bullish start to the day saw DASH strike an early morning intraday high $159.87 before hitting reverse.

Falling short of the first major resistance level at $161.19, DASH fell to a mid-morning low $154.66 before steadying.

Steering clear of the first major support level at $149.59, DASH managed to recover to an afternoon high $157.7 before falling to a late intraday low $153.72.

In spite of the pullback, DASH managed to hold above the first major support level at $149.59.

Following a 51% gain in May that led to a current year high $198.89, it’s been a bearish start to June. The pullback saw DASH fall away from the 23.6% FIB of $172, leaving the extended bearish trend formed back at late April 2018’s swing hi $547.97 firmly intact. For the bulls, a breakout from the 38.2% FIB would be needed to form a near-term bullish trend.

At the time of writing, DASH was down by 0.58% to $153.26. A bearish start to the day saw DASH fall from a morning high $154.50 to a low $153.26.

DASH left the major support and resistance levels untested through the early part of the day.

DASH/USD 14/06/19 Daily Chart

For the day ahead,

A move back through the morning high $154.50 to $155.9 levels would support a run at the first major resistance level at $158.11.

DASH would need support from the broader market, however, to break out from $156 levels.

Barring a broad-based crypto rally, DASH would likely fall short of $155 levels on the day. In the event of a rebound, the first major resistance level at $158.11 and Thursday’s high $159.87 would likely leave $160 levels out of range.

Failure to move back through the morning high $154.5 could see DASH fall deeper into the red. A pullback through the morning low $153.00 would bring the first major support level at $151.96 into play.

Barring a crypto meltdown, DASH would likely steer clear of sub-$150 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $151.91

Major Resistance Level: $158.11

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

DASH Technical Analysis – Support Levels in Play –06/06/19

Key Highlights

  • DASH gained 3.24% on Wednesday. Partially reversing a 6.64% slide from Tuesday, DASH ended the day at $147.836.
  • A late morning intraday high $149.181 saw DASH fall short of the first major resistance level at $153.685.
  • An early afternoon intraday low $141.931 saw DASH steer clear of the first major support level at $136.991.
  • The extended bearish trend, formed back at late April 2018’s swing hi $547.97, remained firmly intact. DASH continued to fall well short of the 38.2% FIB Retracement Level of $244, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Support

DASH gained 3.24% on Wednesday. Partially reversing a 6.64% slide from Tuesday, DASH ended the day at $147.836.

A relatively bullish morning saw DASH rise from a morning low $143.201 to a late morning intraday high $149.181. Falling short of the first major resistance level at $153.685, DASH fell to a mid-afternoon intraday low $141.931.

In spite of the pullback, DASH steered clear of the first major support level at $136.991 and moved back through to $147 levels at the day end.

Following a pullback in late May, the extended bearish trend formed back at late April 2018’s swing hi $547.97, remained firmly intact. Selling pressure at the start of June left DASH short of the 23.6% FIB Retracement Level of $172. For the bulls, a breakout from the 38.2% FIB would be needed to form a near-term bullish trend.

At the time of writing, DASH was down by 0.27% to $147.433. A mixed start to the day saw DASH fall to a morning low $146.495 before rising to a high $147.433.

DASH left the major support and resistance levels untested early on.

DASH/USD 06/06/19 Daily Chart

For the day ahead,

A hold onto $147 levels through the morning would support a run at the first major resistance level at $150.701.

DASH would need support from the broader market, however, to break out from $150 levels and target $153 levels.

Barring a broad-based crypto rally, DASH would likely come up short of the second major resistance level at $153.566.

Wednesday’s high $149.181 and the first major resistance level at $150.701 would limit any upside on the day.

Failure to hold onto $147 levels could see DASH fall deeper into the red. A pullback through the morning low $146.495 would bring the first major support level at $143.451 into play.

Barring a broad-based crypto sell-off, DASH would likely steer clear of sub-$140 levels and the second major support level at $139.066.

Looking at the Technical Indicators

Major Support Level: $143.451

Major Resistance Level: $150.701

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

DASH Technical Analysis – Support Levels in Play –29/05/19

Key Highlights

  • DASH rose by 0.87% on Tuesday. Following on from a 0.73% gain on Sunday, DASH ended the day at $169.087.
  • An early afternoon intraday low $161.901 saw DASH fall through the first major support level at $162.581.
  • A late afternoon intraday high $173.00 saw DASH break through the first major resistance level at $170.331 before easing back.
  • The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact. DASH continued to fall well short of the 38.2% FIB Retracement Level of $244, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Resistance

DASH rose by 0.87% on Tuesday. Following on from a 0.73% gain on Monday, DASH ended the day at $169.087.

A relatively choppy start to the day saw DASH rise to a morning high $169.582 before hitting reverse.

Coming up short of the first major resistance level at $170.331, DASH fell to an early afternoon intraday low $161.901 before finding support.

DASH fell through the first major support level at $162.581 before rallying to a late afternoon intraday high $173.00.

The rally saw DASH break through the first major resistance level at $170.331 before easing back to sub-$170 levels late in the day.

Following last week’s 6.5% fall, the extended bearish trend formed back at late April’s swing hi $547.97, remained firmly intact. Selling pressure at the 23.6% FIB Retracement Level of $172 pinned DASH back from a run at the 38.2% FIB of $244. For the bulls, a breakout from the 38.2% FIB would be needed to form a near-term bullish trend.

At the time of writing, DASH was down by 1.78% to $166.082. A particularly bearish start to the day saw DASH tumble from a morning high $170.313 to a low $166.082.

In spite of the early morning sell-off, DASH stood well clear of the first major support level at $162.99.

DASH/USD 29/05/19 Daily Chart

For the day ahead,

A move back through to $168 levels would bring $170 levels into play later in the day. DASH would need support from the broader market, however, to take a run on Tuesday’s high $173.0. The 23.6% FIB Retracement Level of $172 will come into play in the event of an afternoon recovery.

Barring a broad-based crypto rebound. DASH would likely come up short of the first major resistance level at $174.091.

In the event of a crypto rebound, a breakthrough the first major resistance level at $174.091 would bring $176 levels into play.

Failure to move back through to $168 levels could see DASH slide deeper into the red. A fall through to $164.8 levels would bring $163 levels into play before any recovery.

Barring a crypto meltdown, DASH will likely steer clear of the first major support level at $162.992.

Looking at the Technical Indicators

Major Support Level: $162.992

Major Resistance Level: $174.091

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

DASH Technical Analysis – Support Levels in Play –21/05/19

Key Highlights

  • DASH fell by 2.96% on Monday. Partially reversing a 22.34% rally on Sunday, DASH ended the day at $168.44.
  • An early morning intraday high $176.62 saw DASH fall short of the first major resistance level at $186.37 before hitting reverse.
  • An early afternoon intraday low $156.3 saw DASH steer clear of the first major support level at $150.67.
  • The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact. DASH continued to fall well short of the 38.2% FIB Retracement Level of $244, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Support

DASH fell by 2.96% on Monday. Partially reversing a 22.34% rally from Sunday, DASH ended the day at $168.44.

A choppy morning saw DASH recover from a start of a day slide to $162 levels to hit an intraday high $176.62 before hitting reverse.

Steering clear of the major support and resistance levels early on, DASH slid to an early afternoon intraday low $156.3.

Holding above the first major support level at $150.67, DASH found support from the broader market to strike an afternoon high $172.01.

Selling pressure at the 23.6% FIB Retracement Level of $172 weighed late in the day, leaving DASH at $168 levels by the day end.

In spite of a 39% rally last week, the extended bearish trend formed back at late April’s swing hi $547.97, remained firmly intact. Selling pressure at the 23.6% FIB Retracement Level of $172 pinned DASH back from a run at the 38.2% FIB of $244. For the bulls, a breakout from the 38.2% FIB would be needed to form a near-term bullish trend.

At the time of writing, DASH was down by 3.82% to $162.01. Bearish through the early hours, DASH fell from a morning high $166.65 to a low $160.67 before finding support.

In spite of the early reversal, DASH steered clear of the first major support level at $157.62.

DASH/USD 21/05/19 Daily Chart

For the day ahead,

A move back through the morning high $166.65 to $167 levels would support a run at $170 levels later in the day.

DASH would need support from the broader market, however, break out from the 23.6% FIB of $172. A breakout would support a run at the first major resistance level at $177.94.

Barring a broad-based crypto rally, however, Monday’s high $176.62 would likely limit any upside on the day.

Failure to move through to $167 levels could see DASH struggle through the day. A fall back through the morning low $160.67 to sub-$160 levels would bring the first major support level at $157.6 into play.

Barring a crypto meltdown, however, DASH will likely steer clear of sub-$150 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $157.62

Major Resistance Level: $177.94

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

DASH Technical Analysis – Resistance Levels in Play –13/05/19

Key Highlights

  • DASH rose by 0.73% on Sunday. Following on from a 9.83% rally from Saturday, DASH ended the week up 6.7% to $124.6.
  • A mid-morning intraday high $129.259 saw DASH come within range of the first major resistance level at $129.91 before easing back.
  • An early afternoon intraday low $117.805 saw DASH steer clear of the first major support level at $114.565.
  • The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact. 3 weeks in the red out of the last 5 left DASH well below the 23.6% FIB Retracement Level of $172, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Resistance

DASH rose by 0.73% on Sunday. Following on from a 9.83% rally on Saturday, DASH ended the week up 6.7% to $124.6.

A choppy morning saw DASH recover from a morning low $118.6 to strike a mid-morning intraday high $129.259 before sliding back.

Coming within range of the first major resistance level at $129.91, DASH slid back to an early afternoon intraday low $117.805.

Steering well clear of the major support levels, DASH managed to recover to $124 levels and close out the day in positive territory.

In spite of 10 weeks in the green out of the last 14, the extended bearish trend formed back at late April’s swing hi $547.97, remained firmly intact. DASH continued to sit well below the 23.6% FIB Retracement Level of $172 following mid-December’s swing lo $56.21.

For the bulls, 2 consecutive weeks in the green will have eased concerns of a more material pullback.

A move back through the current year high $140.1 will be needed, however, for DASH to begin reversing the extended bearish trend.

At the time of writing, DASH was up 3.11% to $128.481. A particularly bullish start to the day saw DASH rally from a morning low $124.137 to a high $132.3 before easing back.

The early rally saw DASH break through the first major resistance level at $129.971 before the pullback to sub-$129 levels.

DASH/USD 13/05/19 Daily Chart

For the day ahead,

A move back through the first major resistance level at $129.97 would support a run at the morning high $132.3. Barring a broad-based crypto rally, however, DASH will likely come up short of the second major resistance level at $135.342.

Failure to move back through the first major resistance level could see DASH give up the morning gains. A fall through to $123.8 levels would bring the first major support level at $118.517 into play.

Barring a crypto meltdown, however, DASH will likely steer clear of sub-$118 levels on the day.

Looking at the Technical Indicators

Major Support Level: $118.517

Major Resistance Level: $129.971

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

DASH Technical Analysis – Support Levels in Play –03/05/19

Key Highlights

  • DASH slipped by just 0.06% on Thursday. Following a 4.45% gain from Wednesday, DASH ended the day at $114.98.
  • A mid-morning intraday low $113.502 saw DASH steer clear of the first major support level at $110.35.
  • A late afternoon intraday high $116.08 saw DASH fall short of the first major resistance level at $118.83 before easing back.
  • The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact. 3 consecutive weeks in the red left DASH well below the 23.6% FIB Retracement Level of $172, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Support

DASH slipped by 0.06% on Thursday. Following a 4.45% rally on Wednesday, DASH ended the day at $114.98.

Bucking the trend from across the broader market, DASH slipped to a mid-morning intraday low $113.502 before finding support.

Holding well above the first major support level at $110.35, DASH recovered to a late afternoon intraday high $116.08. In spite of the afternoon moves, DASH came up short of the first major resistance level at $118.83.

A late pullback saw DASH ease back to $114 levels by the day’s end.

In spite of 9 weeks in the green out of the last 13, the extended bearish trend formed back at late April’s swing hi $547.97, remained firmly intact. DASH continued to sit well below the 23.6% FIB Retracement Level of $172 following mid-December’s swing lo $56.21.

For the bulls, 3 consecutive weeks in the green will have raised some red flags. While up by 48% year-to-date, DASH has fallen by 18% from a current year high $140.1 struck on 2nd April.

A move back through the current year high $140.1 will be needed to give the bulls a chance at reversing the extended bearish trend.

At the time of writing, DASH was down by 0.17% to $114.78. Bucking the trend from across the broader market, DASH slid to an early morning low $113.6 before finding support.

Calling on support from the first major support level at $113.62, DASH recovered to a morning high $115.17 before easing back. In spite of the bounce-back, DASH fell short of the first major resistance level at $116.21.

DASH/USD 03/05/19 Daily Chart

For the day ahead,

A move back through to $114.85 levels would support another run at $115 levels later in the day. Support from the broader market would need to kick in, however, for DASH to take a run at $116 levels.

Barring a broad-based crypto rally, DASH will likely fall short of the first major resistance level at $116.21. Thursday’s high $116.08 would pin DASH back from any trend-bucking breakout.

Failure to move back through to $114.85 levels could see DASH struggle through the day. A slide through the morning low $113.6 would bring $112 levels into play before any recovery.

Barring a crypto meltdown, however, DASH would likely steer clear of the second major support level at $112.27.

Looking at the Technical Indicators

Major Support Level: $113.62

Major Resistance Level: $116.21

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

DASH Technical Analysis – Resistance Levels in Play –25/04/19

Key Highlights

  • DASH slid by 2.39 on Wednesday. Following on from a 2.96% fall on Tuesday, DASH ended the day at $115.335.
  • A mid-morning intraday high $121.325 saw DASH fall short of the first major resistance level at $123.53 before hitting reverse.
  • A late afternoon intraday low $111.578 saw DASH slide through the first major support level at $115.83 and second major support level at $113.27.
  • The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact. In spite of 8 weeks in the green out of the last 11, DASH continued to sit well below the 23.6% FIB Retracement Level of $172, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Support

DASH tumbled by 2.39% on Wednesday. Following on from a 2.96% fall on Tuesday, DASH ended the day at $115.335.

A particularly choppy start to the day saw DASH rise to an early morning intraday high $121.325 before hitting reverse.

Falling short of the first major resistance level at $123.53, DASH tumbled to a late afternoon intraday low $111.578 before steadying.

The sell-off saw DASH slide through the first major support level at $115.83 and second major support level at $113.27.

While pressure from the broader market did the damage, DASH managed to find support late in the day to move back through to $115 levels and avoid a full reversal of April’s gains.

In spite of 8 weeks in the green out of the last 11, the extended bearish trend formed back at late April’s swing hi $547.97, remained firmly intact. DASH continued to sit well below the 23.6% FIB Retracement Level of $172 following mid-December’s swing lo $56.21.

For the bulls, it had been an impressive run since December’s swing lo $56.21. 2-consecutive weeks in the red and this week’s sell-off, however, have ultimately left the 23.6% FIB of $172 out of play for the near future.

At the time of writing, DASH was up by 1.36% to $116.902. A bullish start to the day saw DASH rise from a morning low $115.34 to a high $117.552.

DASH left the major support and resistance levels untested early on.

DASH/USD 25/04/19 Daily Chart

For the day ahead,

A hold onto $116 levels through the morning would support a move through the morning high to $118 levels. DASH would need support from the broader market, however, to take a run at the first major resistance level at $120.58.

Barring a broad-based crypto rebound, DASH would likely come up short of $120 levels on the day. In the event of a rebound, a breakout from the first major resistance level at $120.58 to $121 levels could be on the cards before any pullback.

Failure to hold onto $116 levels could see DASH resume Wednesday’s reversal. A fall through to $114 levels would bring the first major support level at $110.83 into play before any recovery.

Barring another crypto meltdown, DASH would likely continue to steer clear of sub-$110 support levels.

Looking at the Technical Indicators

Major Support Level: $110.83

Major Resistance Level: $120.58

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

DASH Technical Analysis – Support Levels in Play –17/04/19

Key Highlights

  • DASH rose by 2.29% on Tuesday. Partially reversing a 3.28% slide from Monday, DASH ended the day at $121.01
  • An early afternoon intraday low $116.36 saw DASH hold above the first major support level at $114.13 before finding support.
  • An early evening intraday high $121.55 saw DASH fall short of the first major resistance level at $123.46.
  • The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact. In spite of 8 weeks in the green out of the last 10, DASH continued to sit well below the 23.6% FIB Retracement Level of $172, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Resistance

DASH gained 2.29% on Tuesday. Partially reversing a 3.28% slide from Monday, DASH ended the day at $121.01.

Tracking the broader market through the day, DASH rose to a late morning high $119.40 before hitting reverse.

Falling short of the first major resistance level at $123.46, DASH fell to an early afternoon intraday low $116.36. Steering clear of the first major support level at $114.13, DASH recovered to an intraday high $121.55 before easing back. Whilst breaking through to $120 levels, the resistance levels remained elusive on the day.

In spite of 8 weeks in the green out of the last 10, the extended bearish trend formed back at late April’s swing hi $547.97, remained firmly intact. DASH continued to sit well below the 23.6% FIB Retracement Level of $172 following mid-December’s swing lo $56.21.

For the bulls, it’s been an impressive run since December’s swing lo $56.21. Despite last week’s 9.5% slide, DASH has rallied 115% since the December swing lo. A second week in the red is on the cards, however, should the broader market fail to rebound from bearish start to the week.

At the time of writing, DASH was down by 1.58% to $119.10. A bullish start to the day saw DASH strike a morning high $122.67 before hitting reverse. Coming within range of the first major resistance level at $122.92, DASH slid to a morning low $119.10. In spite of the morning reversal, DASH steered clear of the first major support level at $117.73.

DASH/USD 17/04/19 Daily Chart

For the day ahead,

A move back through $119.64 would likely lead to a return to $120 levels later in the day. Support from the broader market would be needed, however, for DASH to take a run at the first major resistance level at $122.92.

Barring a broad-based crypto rally, DASH will likely come up short of $124 levels on the day.

Failure to move through $119.64 levels could see DASH take a bigger hit later in the day. A pullback to $118 levels would bring the first major support level at $117.73 into play before any recovery.

Barring a crypto meltdown, DASH will likely steer clear of Tuesday’s low $116.36 on the day.

Looking at the Technical Indicators

Major Support Level: $117.73

Major Resistance Level: $122.92

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

DASH Technical Analysis – Support Levels in Play –09/04/19

Key Highlights

  • DASH rose by 0.92% on Monday. Following on from a 3.68% gain from Sunday, DASH ended the day at $136.96.
  • An early morning intraday high $138.709 saw DASH break through the first major resistance level at $137.36.
  • A mid-day intraday low $131.55 saw DASH fall through the first major support level at $131.99 before steadying.
  • The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact. In spite of 8 weeks in the green out of the last 9, DASH continued to sit well below the 23.6% FIB Retracement Level of $172, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Support

DASH slipped by 0.92% on Monday. Following on from a 3.68% gain from Sunday, DASH ended the day at $136.96.

The day’s gain came off the back of a 23% rally in the week ending 7th April, which locked in an 8th week in the green out of the last 9.

On the day, a start of a day intraday high $138.709 saw DASH break through the first major resistance level at $137.36 before hitting reverse.

DASH fell victim to a broad-based crypto sell-off through the morning. The sell-off saw DASH slide through the first major support level at $131.99 to a mid-day intraday low $131.55.

Support through the early afternoon led DASH to $137 levels before easing back to $136 levels late in the day. DASH managed to move back into positive territory with the late recovery.

In spite of 8 weeks in the green out of the last 9, the extended bearish trend formed back at late April’s swing hi $547.97, remained firmly intact. DASH continued to sit well below the 23.6% FIB Retracement Level of $172 following mid-December’s swing lo $56.21.

For the bulls, it’s been an impressive run since December’s swing lo $56.21. While a choppy start to the week will test investor resilience, DASH has rallied 143.7% since the December swing lo. It’s going to take more than a start of a week blip for a reversal to kick in.

At the time of writing, DASH was down by 1.83% to $134.44. Tracking the broader market, DASH fell from a morning high $136.87 to a low $133.501 before finding support.

In spite of a relatively choppy start to the day, DASH left the major support and resistance levels untested early on.

DASH/USD 09/04/19 Daily Chart

For the day ahead,

A move back through to $135.8 levels would be needed to signal a recovery of the morning losses through the afternoon.

Barring a broad-based crypto rally, however, we would expect DASH to come up short of the first major resistance level at $139.93. Monday’s high $138.71 would likely limit any upside on the day.

Failure to move through to $135.8 levels could see DASH take a bigger hit on the day. A fall through the morning low $133.50 would bring the first major support level at $132.77 into play. Barring a crypto sell-off, we would expect DASH to avoid sub-$132 levels through the day.

Looking at the Technical Indicators

Major Support Level: $132.77

Major Resistance Level: $139.93

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

DASH Technical Analysis – Resistance Levels in Play –01/04/19

Key Highlights

  • DASH rallied by 9.75% on Sunday. Following on from a 1.96% gain on Saturday, DASH ended the day at $110.2.
  • An early morning intraday low $99.303 saw DASH steer well clear of the first major support level at $96.68.
  • A late in the day intraday high $110.56 saw DASH break through the day’s major resistance levels.
  • The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact. In spite of 7 weeks in the green out of the last 8, DASH continued to sit well below the 23.6% FIB Retracement Level of $172, following 15th December’s swing lo $56.214.

How to Buy DASH

DASH Price Resistance

DASH rallied by 9.75% on Sunday. Following on from a 1.96% gain on Saturday, DASH ended the week up 21.2% to $110.2. A run of 7 weeks in the green out of the last 8 contributed to a 42% gain for the quarter, 34% of which came in March.

On the day, an early morning intraday low $99.303 was the only bearish move of the day. Steering well clear of the first major support level at $96.68, DASH rallied to a late intraday high $110.56.

The day-long rally saw DASH break through the major support levels and hold above the third major support level at $108.71 at the day’s end.

In spite of 7 weeks in the green out of the last 8, the extended bearish trend formed back at late April’s swing hi $547.97, remained firmly intact. DASH continued to sit well below the 23.6% FIB Retracement Level of $172 following mid-December’s swing lo $56.21.

For the bulls, it’s been an impressive 1st quarter, with DASH seeing weekly gains in all but 3 weeks in the year. A breakthrough to $100 levels was key in the last week to support a continued recovery to $170 levels.

At the time of writing, DASH was up by 4.43% to $115.084. A start of a day fall to a morning low $108.0 saw DASH steer clear of the first major support level at $102.82. Rallying through the early hours, DASH hit a morning high $117.228 before easing back. The early breakout saw DASH break through the first major resistance level at $114.07 to come within range of the second major resistance level at $117.95.

DASH/USD 01/04/19 Daily Chart

For the day ahead,

A move back through to $115 levels would signal a run at the early morning high $117.23. Support from the broader market would be needed, however, for DASH to breakout from a return to $115 levels. In the event of a return to $117 levels, we would expect the second major resistance level at $117.95 to pin DASH back from $118 levels.

Failure to move back through to $115 levels could see DASH fall back to $112 levels before any recovery. Barring a crypto meltdown we would expect DASH to avoid sub-$112 levels through the day. In the event of a sell-off, sub-$110 levels could come into play, though we would expect the first major resistance level at $102.82 to be left untested.

Looking at the Technical Indicators

Major Support Level: $102.82

Major Resistance Level: $114.07

23.6% FIB Retracement Level: $172

38.2% FIB Retracement Level: $244

62% FIB Retracement Level: $360

DASH Technical Analysis – Support Levels in Play –22/03/19

Key Highlights

  • DASH fell by 2.87% on Thursday. Reversing a 2.3% gain from Wednesday, DASH ended the day at $89.375.
  • A late morning intraday high $92.57 saw DASH fall well short of the first major resistance level at $94.01.
  • An early afternoon intraday low $88.103 saw DASH fell through the first major support level at $89.96.
  • The extended bearish trend, formed back at late April’s swing hi $547.97, remained firmly intact. In spite of 6 consecutive weeks in the green, DASH continued to sit well below 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 2.87% on Thursday. Reversing a 2.3% gain from Wednesday, DASH ended the day at $89.375.

Bucking the trend through the early hours, DASH rose to a late morning intraday high $92.57 before hitting reverse.

Falling short of the first major resistance level at $94.01, DASH fell through the first major support level at $89.96. An early afternoon recovery to $90 levels was short-lived. Negative sentiment across the broader market resulted in a slide back to sub-$90 levels by the day’s end.

In spite of 6 consecutive weeks in the green, the extended bearish trend formed back at late April’s swing hi $547.97, remained firmly intact. DASH continued to sit well below the 23.6% FIB Retracement Level of $172 following mid-December’s swing lo $56.21.

For the bulls, DASH continued to struggle at $90, with a breakout from $90 needed to bring $100 levels into play for the first time this year.

At the time of writing, DASH was down by 0.51% to $88.915. A bearish start to the day saw DASH fall from a morning high $89.243 to a low $88.815. Moves through the early hours left the major support and resistance levels untested.

DASH/USD 22/03/19 Daily Chart

For the day ahead,

A move back through to $90 levels would be needed to bring $92 levels and Thursday’s high $92.57 into play. Support from the broader market would be needed, however, for DASH to break through the first major resistance level at $91.929.

Barring a broad-based crypto rally, we would expect DASH to continue to struggle at $90 levels through the day.

Failure to move back through to $90 levels could see DASH take a bigger hit on the day. A fall through to $88.50 levels would bring the first major support level at $87.46 into play.

In the event of a broad-based crypto sell-off, DASH could visit $86 levels before any recovery. Barring a mass sell-off, however, we would expect DASH to steer clear of sub-$88 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $87.462

Major Resistance Level: $91.929

23.6% FIB Retracement Level: $172

38.2% FIB Retracement Level: $244

62% FIB Retracement Level: $360