- Dash price continued to move higher and looks set for more gains in the near term.
- As highlighted yesterday there is a flag pattern formed on the hourly chart, which is still in play and the price is moving inside it.
- A major hurdle around 0.0120BTC continue to stall the upside move, and must be cleared for more gains.
Dash price continued to move inside the flag pattern as buyers remained in control in the short term.
We highlighted yesterday a flag pattern forming on the hourly chart, which continued to act as a catalyst for buyers. There is a nice upside wave in formation, as the 100 hourly simple moving average is below the current price. It means the price remains supported and there are chances of more gains in the near term. However, there is a monster barrier forming on the upside around 0.0120BTC as stated in yesterday’s post. The mentioned level also coincides with the 23.6% Fib retracement level of the last drop from 0.0147BTC to 0.0111BTC.
Moreover, it also represents the previous swing area, and