Dash Price Technical Analysis – Buying Dips Paid Off

Dash Price Key Highlights

  • Dash price succeeded in trading higher as it spiked above a major resistance area.
  • Our buying dips view paid off, and initial target was achieved which was 0.0130BTC.
  • 100 hourly simple moving average was breached, which might now act as a support if the price corrects lower from the current levels.

Dash price finally moved higher, as buyers managed to clear an important channel resistance area recently.

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Channel Break

We highlighted in yesterday’s analysis a descending channel, which was supposed to act as a catalyst in the near term. There was a break noted, as the price spiked higher and settled above the channel resistance trend line. The best part is the fact that the price moved above the 100 hourly simple moving average. The upside was stalled around the 50% Fib retracement level of the last drop from 0.0136BTC to 0.0124BTC. It was our initial target, and if buyers remain in control, then the 61.8% Fib level could also be tested.




Read more ... source: TheBitcoinNews