Yahoo Finance DASH Technical Analysis – Resistance Levels in Play – 16/11/18
Key Highlights
DASH fell by 2.28% on Thursday, following on from Wednesday’s 11.82% tumble, to end the day at $136.5.
A bearish start to the day saw DASH fall from an intraday high $141.04 to an early afternoon intraday low and new swing lo $126.17 before recovering to $130 levels.
The start of a day intraday high $141.04 fell well short of the day’s first major resistance level at $157.32, while DASH managed to avoid the first major support level at $125.54.
A 3rd consecutive day in the red and a new swing lo $136.5 reaffirmed the extended bearish trend, formed back at late April’s swing hi $547.97.
DASH Price Support
Dash fell by 2.28% on Thursday, following on from Wednesday’s 11.82% slide, to end the day at $136.5.
Tracking the broader market, Wednesday’s reversal continued through the first half of the day, with DASH falling from a start of a day intraday high $141.04 to an early afternoon intraday low and new swing lo $126.17.
In spite of the reversal through the morning, DASH managed to steer clear of the day’s first major support level at $125.54, while also falling well short of the day’s first major resistance level at $157.32, with negative sentiment across the market, ahead of the Bitcoin Cash hard fork, doing the damage.
The new swing lo also reaffirmed the extended bearish trend, formed at late April’s swing hi $547.97, with DASH sitting well below the 23.6% FIB Retracement Level of $226.
At the time of writing, DASH was up 1.25% to $138.21, with moves through the early part of the day seeing DASH rise to an early morning high $139.496 before falling to a morning low $134.62, a choppy start to the day seeing the day’s major support and resistance levels left untested early on.
For the day ahead, holding onto positive territory through the morning would support another run at $140 levels, while resistance at $140 would likely pin DASH back from any run at the day’s first major resistance level at $142.97, barring a material shift in sentiment across the broader market, DASH bucking the trend early on.
Failure to hold above $136 levels through the morning could see DASH give the early gains, with a fall through $134.57 to the morning low $134.62 likely to bring sub-$130 levels and the day’s first major support level at $128.11 into play before any recovery, more material declines unlikely barring a material shift in support for Bitcoin Cash SV.
Looking at the Technical Indicators
Major Support Level: $128.11
Major Resistance Level: $142.97
Fib 23.6% Retracement Level: $226
Fib 38% Retracement Level: $287
Fib 62% Retracement Level: $387
This article was originally posted on FX Empire
