Dash Price Technical Analysis – DASH/USD Back In Bullish Zone

Key Highlights

Dash price faced a lot of selling pressure lately and traded below $140 versus the US Dollar.

There is a bearish trend line forming with resistance at $165 on the hourly chart of DASH/USD (data feed from Poloniex), which is protecting gains.

The price may soon gain pace and move above the $165 resistance to trade near $180.

Dash price (DigitalCash) is recovering well against the US Dollar and Bitcoin, and now DASH/USD may soon break the $165 resistance for more gains.

Dash Price Resistance

Recently, we saw a major decline in Dash price below $160 against the US Dollar. There were many attempts to break the $200 handle, but the price failed and moved down. During the downside move, it broke a few important supports like $180 and $160. A new low was formed below $140 at $136.14. Later, the price found support and started a recovery by moving above the $150 resistance. It also moved above the 23.6% Fib retracement level of the last decline from the $190 high to $136 low.

At the moment, the price is trading near a major hurdle at $165. There is a bearish trend line forming with resistance at $165 on the hourly chart of DASH/USD. The trend line resistance near $165 may play a major role. It also coincides with the 50% Fib retracement level of the last decline from the $190 high to $136 low. Once the price breaks the trend line resistance and settles above $165, there can be more gains.

On the upside, the next hurdle is near $172 and the 100 simple moving average. On the downside, the $150 level is a support followed by $140.

Looking at the indicators:

Hourly MACD – The MACD for DASH/USD is back in the bullish zone.

Hourly RSI – The RSI for DASH/USD is now well above the 50 level.

Intraday Support Level – $140

Intraday Resistance Level – $165

Chart from Poloniex; hosted by Trading View

Source: www.newsbtc.com/2017/06/27/dash-price-technical-analysis-dashusd-back-bullish-zone/

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