- Dash price fell lower, but it found support near 0.0110BTC which represents a major bullish area.
- A contracting triangle pattern formed on the hourly chart, which might act as a catalyst for a break.
- 100 hourly simple moving average is aligned with the triangle resistance area.
Dash price need to clear 0.0112BTC if buyers have to take it higher in the near term.
There were ranging moves in the Dash price for some time now, which we followed this week. There is a major support area building around 0.0110BTC which acted as a monster hurdle for sellers, as the mentioned level provided support many times. Currently, there is a contracting triangle pattern formed on the hourly chart, which could act as a catalyst for the next move in the near term.
On the upside, the most important pivot is around 0.0112BTC, as it represents a confluence of many things. First, the triangle resistance trend line is around the stated level. Second, the 100 hourly simple moving average is positioned around it. Lastly, the 23.6% Fib retracement level