Yahoo Finance DASH Technical Analysis – DASH Tanks – 14/08/18
Key Highlights
DASH tumbled by 14.15% on Monday, reversing Sunday’s 2.35% gain with venom, to end the day at $143.989.
An early move to an intraday high $170 saw DASH come within reach of the day’s first major resistance level at $170.96 before being hit by a broad based sell-off.
DASH tumbled through the day’s 3-major support levels to an intraday low and new swing lo $143 late in the day.
The extended bearish trend formed at late April’s swing hi $547.97 remained firmly intact, with DASH ending the day below the third major support level at $151.82.
DASH Price Support
DASH tumbled by 14.15% on Monday, reversing Sunday’s 2.35% with interest, to end the day at $143.989.
A relatively range bound start to the day saw DASH come up short of the first major resistance level at $170.96, with an early morning intraday high $170, which came off the back of upward momentum through the second half of the day on Sunday, rather than a particularly bullish start to the week.
Tracking the broader cryptomarket, DASH managed to avoid testing the day’s first major support level at $163.5 through the remainder of the morning, in spite of a pullback from the day’s high, with an early afternoon broad based market sell-off doing the damage.
DASH tumbled through the day’s three major support levels to an intraday low and new swing low $143, with no late recovery to provide hope of an early morning recovery on Tuesday.
The moves through the day reaffirmed the extended bearish trend formed at late April’s swing hi $547.97, with DASH not only striking a new swing lo $143, but also failing to recover through the day’s third major support level at $151.82, the new swing lo the lowest level hit by DASH since last July.
At the time of writing, DASH was down 2.94% to $139.836, with DASH sliding to a morning low and new swing lo $132.95, before recovering to $139 levels, the morning low seeing DASH fall through the first major support level at $134.66.
For the day ahead, a move back through to $140 levels would provide some support and bring the start of the day $143.2 into play, though for DASH to break through and hold on to $140 levels, sentiment across the broader market will need to improve through the morning.
Failure to break back through to $140 levels will likely see DASH pullback through the morning low $132.95 to bring sub-$130 levels and the day’s second major support level at $125.33 into play, though barring dire news hitting the wires that leads to a panic sell-off, we will expect DASH end the day at $130 levels.
https://www.tradingview.com/x/1Ig1eHbc/
Looking at the Technical Indicators
Major Support Level: $134.66
Major Resistance Level: $161.66
Fib 23.6% Retracement Level: $239
Fib 38% Retracement Level: $298
Fib 62% Retracement Level: $393
This article was originally posted on FX Empire
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