Dash Price Technical Analysis – Upside Thrust and Reversal

Dash Price Key Highlights

  • Dash price spiked higher sharply to register a new weekly high of 0.0147BTC where it found sellers.
  • There was a flag pattern formed on the hourly chart, as highlighted yesterday which was breached to set the tone for an upside move.
  • The price failed completely around 0.0147BTC, reversed more than 75% of gains.

Dash price climbed higher sharply Intraday, but failed to hold gains and traded back lower.

Failed attempt?

We highlighted in yesterday’s post that the Dash price could surge higher, as there was a flag pattern formed on the hourly chart. There was a break noted, and the price moved above the 100 hourly simple moving average. The price even settled above a few critical resistance areas, including 0.0120BTC and 0.0125BTC. The price traded as high as 0.0147BTC where sellers appeared to prevent any further gains. They not only succeeded in stalling the upside move, but also managed to push the price down to a great extent.

Mid Post Ads


The downside move was swift, as more than 70% gains were trimmed by sellers. The price also closed back below

Read more ... source: TheBitcoinNews