Yahoo Finance DASH Technical Analysis – Support Levels in Play –14/06/19
Key Highlights
DASH fell by 1.13% on Thursday. Partially reversing a 6.28% rally from Wednesday, DASH ended the day at $154.15.
A late morning intraday high $159.87 saw DASH fall short of the first major resistance level at $161.19.
A late intraday low $153.72 saw DASH steer clear of the first major support level at $149.59.
The extended bearish trend, formed back at late April 2018’s swing hi $547.97, remained firmly intact. DASH continued to fall well short of the 38.2% FIB Retracement Level of $244, following 15th December’s swing lo $56.214.
DASH Price Support
DASH fell by 1.13% on Thursday. Partially reversing a 6.28% rally from Wednesday, DASH ended the day at $154.15.
A bullish start to the day saw DASH strike an early morning intraday high $159.87 before hitting reverse.
Falling short of the first major resistance level at $161.19, DASH fell to a mid-morning low $154.66 before steadying.
Steering clear of the first major support level at $149.59, DASH managed to recover to an afternoon high $157.7 before falling to a late intraday low $153.72.
In spite of the pullback, DASH managed to hold above the first major support level at $149.59.
Following a 51% gain in May that led to a current year high $198.89, it’s been a bearish start to June. The pullback saw DASH fall away from the 23.6% FIB of $172, leaving the extended bearish trend formed back at late April 2018’s swing hi $547.97 firmly intact. For the bulls, a breakout from the 38.2% FIB would be needed to form a near-term bullish trend.
At the time of writing, DASH was down by 0.58% to $153.26. A bearish start to the day saw DASH fall from a morning high $154.50 to a low $153.26.
DASH left the major support and resistance levels untested through the early part of the day.
For the day ahead,
A move back through the morning high $154.50 to $155.9 levels would support a run at the first major resistance level at $158.11.
DASH would need support from the broader market, however, to break out from $156 levels.
Barring a broad-based crypto rally, DASH would likely fall short of $155 levels on the day. In the event of a rebound, the first major resistance level at $158.11 and Thursday’s high $159.87 would likely leave $160 levels out of range.
Failure to move back through the morning high $154.5 could see DASH fall deeper into the red. A pullback through the morning low $153.00 would bring the first major support level at $151.96 into play.
Barring a crypto meltdown, DASH would likely steer clear of sub-$150 support levels on the day.
Looking at the Technical Indicators
Major Support Level: $151.91
Major Resistance Level: $158.11
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
