- Dash price managed to gain bids, and currently testing an important resistance area around 0.0118BTC.
- There is a critical bearish trend line formed on the hourly chart, as highlighted yesterday and acting as a barrier for buyers.
- The price is attempting to close above the 100 hourly simple moving average, which is a positive sign.
Dash price is facing a major hurdle around 0.0118BTC, which if broken might open the doors for more gains.
Trend Line Resistance
We highlighted yesterday a bearish trend line on the hourly chart, which acted as a resistance for buyers. Moreover, the price was below the 100 hourly simple moving average, but buyers were able to push the price above it. Currently, the price is around the 38.2% Fib retracement level of the last drop from 0.0128BTC to 0.0111BTC. So, if the price breaks above the mentioned Fib level and clears the highlighted trend line and resistance area, then a move towards the next selling area at the 50% Fib level is possible.
Any further gains might