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DASH Price Prediction: DASH/USD expected to hit the 64.885 support level

DASH expected to hit the support level
  • DASH/USD has gained 0.6 percent for the day.
  • The crypto has been trading in a descending channel for more than a week.
  • The prices are expected to retest the upper trendline of the descending channel.
  • The crypto is still on a bear market, and is expected to hit the support level
  • Short term traders can still go long as the market approaches the upper trendline.


DASH/USD opened the market at $70.344, reaching highs of $71.500. At press time, the market has gained 0.6 percent, trading at 71.175.

DASH/USD daily chart

DASH Price Prediction: DASH/USD expected to hit the 64.885 support level 1
Image source Trading View

DASH/USD has been trading within a descending channel for the 8 days, after hitting support levels of $64.885, where it retraced to 61 percent Fibonacci retracement levels. The prices on the DASH/USD daily chart have touched the upper trendline of the descending channel, and are more likely to give a false breakout before resuming the bearish move.

Indicators on the daily chart seem to confirm a bearish move in the offing, with Bollinger Bands showing prices bouncing off the lower band as a result of pullback. However, the indicator still shows signs of volatility with prices biased towards the lower band, which indicates a bearish move.

The MACD indicator is also biased towards a bearish move, showing only a small divergence to the upside. The indicator reading is still below the baseline, which indicates that the crypto is still in a bearish move.

DASH 4-hour chart

DASH Price Prediction: DASH/USD expected to hit the 64.885 support level 2
Image source Trading View

The 4-hour chart shows that prices are trading within a support and resistance level of $64.885 and $79.659 respectively. The prices hit the resistance levels on 12th September, and have been trading withing descending channel since then,

At press time, the 4-hour chart shows the prices are on the rise, gaining 0.60 percent for the day. However, the prices are coming out of a resistance level of the lower descending channel trendline and are expected to hit the upper trendline of the channel.

Therefore, for short term traders, DASH/USD is likely to move a few percentage points to the upside until it hits the upper trendline. The prices are also likely to have a false breakout, where the prices will seem to move past the upper trendline of the channel as though they have broken out of the structure and reversed to a bullish market, further indicating that short term trade to the upside is possible on the 4-hour chart. The prices are then expected to drop and are likely to hit the 64.885 support level.

Kelvin Maina

Kelvin Maina

Kelvin Maina is a computer science graduate who has a strong interest in cryptocurrency. He also enjoys reading fictional novels and swimming. He has over five years of experience in the software engineering industry and understands the current technology trends around the world.

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