Yahoo Finance DASH Technical Analysis – Support Levels in Play –14/08/19
Key Highlights
DASH fell by 3.55% on Tuesday. Following on from a 1.79% decline on Monday, DASH ended the day at $100.652.
An early morning intraday high $108.058 saw DASH break through the first major resistance level at $106.43.
A mid-afternoon intraday low $100.056 saw DASH fall through the first major support level at $102.408 and second major support level at $100.385.
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.
DASH Price Support
DASH fell by 3.55% on Tuesday. Following on from a 1.79% decline on Monday, DASH ended the day at $100.652.
A choppy start to the day saw DASH rally from an early morning low $103.051 to an early morning intraday high $108.058.
Steering clear of the major support levels, DASH broke through the first major resistance level at $106.428. The second major resistance level at $108.425 came into play before a broad-based crypto sell-off kicked in.
The sell-off saw DASH slide to a mid-afternoon intraday low $100.056. DASH fell through the first major support level at $102.408 and second major support level at $100.385.
Steering clear of sub-$100 was key 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 by 0.65% to $100.00. A bearish start to the day saw DASH fall from an early morning high $101.291 to a low $99.734 before finding support.
DASH left the major support and resistance levels untested early on.
For the day ahead
DASH would need to move through to $102.90 levels to support a run at the first major resistance level at $105.788.
Support from the broader market would be needed, however, for DASH to take a run Tuesday’s high $108.058.
Barring a broad-based crypto rally on the day, DASH would likely fall short of the second major resistance level at $110.924.
Failure to move through to $102.922 levels could see DASH fall deeper into the red. A fall back through the morning low $99.734 would bring the first major support level at $97.786 into play.
Barring a crypto meltdown, however, DASH should steer clear of sub-$97 support levels on the day.
Looking at the Technical Indicators
Major Support Level: $97.786
Major Resistance Level: $105.788
23.6% FIB Retracement Level: $172
38.2% FIB Retracement Level: $244
62% FIB Retracement Level: $360
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Thanks, Bob
This article was originally posted on FX Empire
