Yahoo Finance DASH Technical Analysis – Support Levels in Play – 22/10/18
Key Highlights
DASH fell by 0.51% on Sunday, following a 1.56% gain on Saturday, to end the week down 1.36% to $152.61.
An early morning intraday high $154.76 saw DASH fall short of the day’s first major resistance level at $155.54.
Tracking the broader market through the afternoon, DASH fell to a late intraday low $152.27, holding above the day’s first major support level at $149.96.
The moves through the week reaffirmed the extended bearish trend formed at late April’s swing hi $547.97
DASH Price Support
DASH fell by 0.51% on Sunday, partially reversing Saturday’s 1.56% rise, to end the day at $152.61, moves through the week leaving DASH down 1.36% Monday through Sunday.
A bullish start to the day saw DASH move from a start of a day $153.4 to an early morning intraday high $154.76, DASH falling short of the day’s first major resistance level at $155.54 to hit reverse through the rest of the day.
Tracking the broader market through the second half of the day, DASH fell to a late in the day intraday low $152.27 before finding support, with DASH managing to steer clear of the first major support level at $149.96.
The losses for the week reaffirmed the extended bearish trend formed at late April’s swing hi $547.97, with DASH continuing to fall well short of the 23.6% FIB Retracement Level of $229.
At the time of writing, DASH was down 0.34% to $151.75, with Sunday’s afternoon reversal continuing into the early hours of this morning, DASH falling from a start of a day morning high $152.77 to a morning low $151.75, the early moves leaving the day’s major support and resistance levels untested early on, while bucking the broader market trend.
For the day ahead, a move back through to $152 levels and the morning high $152.77 would support a run at $153 levels, while DASH may struggle to take a run Sunday’s high and the day’s first major resistance level at $154.16 should DASH fail to move back through the morning high $152.77 by late morning.
Failure to move back through the morning high $152.77 could see DASH take a bigger hit later in the day to add to last week’s losses, a slide through the day’s first major support level at $151.67 bringing $150 levels and the day’s second major support level at $150.72 into play before any recovery.
We would expect DASH to steer clear of sub-$150 support levels on the day, barring particularly negative news hitting the wires, with DASH likely to recover from the early losses should the broader market hold onto gains through the morning.
Looking at the Technical Indicators
Major Support Level: $151.67
Major Resistance Level: $154.16
Fib 23.6% Retracement Level: $229
Fib 38% Retracement Level: $290
Fib 62% Retracement Level: $388
This article was originally posted on FX Empire
