Dash Price Analysis: Price Levels Anticipating With Support of $88.00 For Positive Bounceback

Dash Price Levels Are Expected To Form Bullish Nautre After Testing Support Line
  • Dash has been testing the major support level of $88.00 while facing corrections after a positive breakout from the symmetrical triangle 
  • The price levels were able to have a positive bounceback during the current market session with an overall gain of 1.36% climbing above the crucial mark of $100
  • The DASH/BTC pair also prevented a negative breakout below the crucial mark of 0.0030 BTC

On the weekly candlestick setup, Dash price levels had a positive breakout from the symmetrical triangle formed exhibiting bullish nature in the market. However, the price levels faced significant retracement around $145.00. The pullback resulted in a negative breakout below the crucial level of $100 and allowing the support level of $88.00 into the play. Dash had a positive bounceback indicating the generation of a new support area around $90 and a positive breakout above the crucial mark of $100 during the current market session. The CMP is placed at $101.18 with an overall gain of 1.24% resulting in an uptrend of 1.12% in the market capitalization. The decline in the volume traded about 16.00% looks suspicious. 

If the current bullish move is able to build its significance in the upcoming trading sessions, one might expect to test the peak point of a symmetrical triangle placed around the bullish mark of $200.00. However, for having this kind of notable bullish trend, Dash must have a positive breakout above the critical resistance mark of $150.00

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However, the Moving Averages indicates that the price levels are still on a decisive point which might be justified with the decline in the volume traded. 20-EMA is acting as a major support line for the price levels while 50-EMA looks vulnerable to have a negative breakout from the bears. A positive bounceback will allow the bulls to have a target above 200-EMA again. 

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Krystian Bielanskihttp://www.thecoinrepublic.com
Krystian is a crypto trader and investor with a background in IT based in Hong Kong. He specialises in technical and fundamental analysis working closely with chartist and algo programmers.

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