Dash Price Technical Analysis – DASH/USD Outpaces BTC/USD

Key Highlights

• Dash price surged higher above the $200-210 levels versus the US Dollar, and performed a lot better than Bitcoin.
• There are two bullish trend lines formed with supports as $210 and $190 on the hourly chart of DASH/USD (data feed from Poloniex).
• The price currently looks set for more gains above the $220 level towards $230 in the near term.

Dash price (DigitalCash) is rocketing higher against the US Dollar and Bitcoin, and now DASH/USD is well above a key resistance levels like $200.

Dash Price Monstrous Ride

There was a sharp buying interest for Dash, which took its price above a major resistance of $200 against the US Dollar. Dash also performed a lot better than Bitcoin and gained more than 10% versus BTC. It seems like Dash outpaced the bearish sentiment since there was a close above $200 in DASH/USD. In the last analysis, I mentioned that buying with a break above $185 might be considered. It did play very well, as a break above $185 took the price above $200.

The price is trading with a lot of bullish strength at the moment and recently traded as high as $221. There are two bullish trend lines formed with supports as $210 and $190 on the hourly chart of DASH/USD. The first trend line also coincides with the 23.6% Fib retracement level of the last wave from the $177 low to $221 high. There is hardly any sign of a major correction at present, which means the price could easily break $221.

The next stop is around the $228-230 levels. Any further gains might even call for a run towards the $250 level in the near term.

Looking at the indicators:

Hourly MACD – The MACD for DASH/USD is well in the bullish zone.

Hourly RSI – The RSI for DASH/USD has reached overbought levels.

Intraday Support Level – $210

Intraday Resistance Level – $230

 

Charts from Poloniex; hosted by Trading View

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.

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