- Dash price looks like consolidating in a range with resistance around 0.0120BTC.
- There is a bearish trend line formed on the hourly chart, acting as a resistance for buyers.
- The price trading near the 100 hourly simple moving average, and struggling to trade positively.
Dash price struggling to trade higher as 0.0120BTC continued to act as a barrier and stalling gains in the near term.
The Dash price remained under a bearish pressure, as buyers failed time and again to take the price above the 100 hourly simple moving average. There was no successful close above the mentioned MA. We stated in this week’s analysis that 0.0120BTC is a major barrier and buyers struggled many time to clear it. The mentioned scenario still exists and now there is a bearish trend line formed on the hourly chart, which is preventing gains in the near term.
A monster barrier at 0.0120BTC holds a lot of importance, as it coincides with the 23.6% Fib retracement level of the last drop from 0.0147BTC to 0.0110BTC. Moreover, there were a couple