Yahoo Finance DASH Technical Analysis – Looks for Support – 19/06/18
Key Highlights
DASH gained 1% on Monday, following Sunday’s 0.42% fall, to end the day at $267.45.
DASH fell through the day’s first major support level at $260.62 and second major support level at $256.29 to an intraday low $250.8 I the morning.
An afternoon rally saw DASH move through to an intraday high $267.26, the day’s high falling short of the first major resistance level at $269.96.
DASH Price Support
DASH gained 1% on Monday, following Sunday’s 0.42% fall, to end the day at $267.45.
It was a mixed day for DASH, with Sunday’s late reversal continuing on into Monday morning, leading DASH through the day’s first major support level at $260.62 and second major support level at $256.29 to an intraday low $250.8, the moves through the morning on the more bearish side relative to its peers.
An early afternoon broad based market rally saw DASH move through to an intraday high $267.26, which fell short of the day’s first major resistance level at $269.96 and more importantly, the 23.6% FIB Retracement Level of $312, to leave the extended bearish trend formed at 24th April’s swing hi $547.967 intact.
At the time of writing, DASH was down 0.54% to $263.46, the morning’s low, in what’s been a relatively choppy start to the day.
Moves through the beginning of the morning saw DASH rally to an intraday high $271.54 before pulling back to sub-$270 levels, the day’s high falling short of the first major resistance level at $272.88.
Failing to buck the broader market trend, the morning’s reversal saw DASH pull back to the morning $263.46 low, while DASH managed to avoid sub-$260 levels and the day’s first major support level at $256.41.
Hopes of a continued rally through the morning, following a modest gain on Monday, fell as the broader market eased its way into the red through the early hours.
For the day ahead, a move back through $268.50 would support a run back through to $270 levels, bringing the day’s first major resistance level at $272.88 into play, though investors will need to be confident that the broader market has managed to consolidate Monday’s gains through the early afternoon.
Failure to move back through $268.5 to $270 levels could see DASH take a hit later in the day, with the first major support level at $256.41 in play in the event of a reversal, while we would expect DASH to hold above Monday’s $250.8 low on the day.
The jury’s out on whether DASH and the cryptomarket has bottomed out, but for DASH to begin a bearish trend reversal, a move back through to $300 levels to take a run at the 23.6% FIB Retracement Level of $312 would be the first step.
Looking at the Technical Indicators
Major Support Level: $256.41
Major Resistance Level: $272.88
Fib 23.6% Retracement Level: $312
Fib 38% Retracement Level: $357
Fib 62% Retracement Level: $430
This article was originally posted on FX Empire
