Yahoo Finance DASH Technical Analysis – Resistance Hits Early – 23/07/18
Key Highlights
DASH fell by 1.62% on Sunday, partially reversing Saturday’s 4.95% rise, to end the week up 8.14% to $249.551.
An early morning intraday high $260.91 saw DASH fall short of the day’s first major resistance level at $261.2363 to pullback through the morning to $251 levels.
A late in the day reversal saw DASH fall to an intraday low $246.311, leaving the first major support level at $241.54 untested before recovering to $249 levels.
DASH Price Resistance
DASH fell by 1.62% on Sunday, partially reversing Saturday’s 4.95% rise, to end the day at $249.551.
A move in the early hours saw DASH hit an intraday high $260.91, falling short of the day’s first major resistance level at $261.24 and well short of the 23.6% FIB Retracement Level of $287, before pulling back to a morning low $250.91, the moves through the morning seeing DASH track the broader market.
Attempts at a recovery through the afternoon came up short of the early morning intraday high $260.91, DASH unable to break clear of $255 levels, with a late sell-off seeing DASH pullback to sub-$250 levels and an intraday low $246.311 before recovering to $249 levels by the day’s end.
In spite of the Sunday pullback, DASH gained 8.14% in the week, though the moves were not enough to begin a bearish trend reversal, with DASH continuing to fall well short of the 23.6% FIB Retracement Level of $287, two runs through $287 having been short lived earlier in the month, selling pressure too great for DASH to breakout from $287 levels to take a run at $300 levels and the 38.2% FIB Retracement Level of $337. A breakout from $287 levels is going to be needed to see the formation of a bearish trend reversal set in.
At the time of writing, DASH was down 0.32% to $248.805 to buck the trend across the broader market that has enjoyed a solid start to the week.
An early rally through to a morning high $258.949 saw DASH come up against the day’s first major resistance level at $258.2 leading to a full reversal to sub-$250 levels, a start of a day morning low $247.09 steering clear of the first major support level at $243.61.
For the day ahead, a move back through $252 levels would support another run at the first major resistance level at $258.2 to bring $260 levels into play, with continued momentum across the broader market likely to provide DASH some much needed support in the morning.
Failure to move back through to $252 levels could see DASH take a bigger hit later in the day, with the day’s first major support level at $243.61 in play in the event of a sell-off, though we would expect DASH to recover the morning losses and track the broader market later in the morning.
Looking at the Technical Indicators
Major Support Level: $243.61
Major Resistance Level: $258.20
Fib 23.6% Retracement Level: $287
Fib 38% Retracement Level: $337
Fib 62% Retracement Level: $418
This article was originally posted on FX Empire
