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

Bob Mason
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In this article:

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.

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

This article was originally posted on FX Empire

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