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

Bob Mason

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.

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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.

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

This article was originally posted on FX Empire

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