Dash Price Key Highlights
- Dash price failed to move lower, and found support around a critical trend line as highlighted in yesterday’s analysis.
- The Double top pattern is still valid, as the price is below the resistance area.
- If there is a break above 0.0130BTC, then more gains are possible in the near term.
Dash price acquiring bids around the bullish trend line is a positive sign for buyers looking ahead.
Trend Line Proved Worth
Yesterday, we highlighted that there is a possibility of a double top pattern forming on the hourly chart which could result in a move lower. There was a downside reaction noted Intraday, but it found support around a major bullish trend line on the hourly chart. A sharp rejection was seen around the highlighted trend line, which is a warning sign to sellers. However, we cannot discard the double top pattern as long as the price is below 0.0130BTC. If sellers manage to pierce the trend line, then a retest of 0.0125BTC is likely in the near term.