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Dash price analysis: Prices trending up past $66 level

Dash price analysis
  • Dash has gained 2.42 percent for the day after yesterday’s intraday losses.
  • The crypto opened near the support level, which it failed to break out of, and has started a bullish move.
  • Intraday traders can look for long position opportunities on the 4-hour chart.

Dash opened the markets at $64.943, reaching highs of 66.179 and lows of $64.943. At press time, the crypto was trading at its highs of $66.179, after gaining a 2.42 percent for the day. Todays market prices are a reversal of yesterday’s intraday bearish market which moved -4.98 percent.

Dash price analysis on the daily chart

Dash price analysis: Prices trending up past $66 level 1
Image source Trading View

Dash prices opened today’s trading session near the support level of $64.885, and after failing to break the support levels, the crypto reversed to a bullish move. The prices were coming out of a bearish flag, where there was a high volatility move to the downside in yesterday’s trading session, which also failed to break the support levels.

The prices having wiped out retracements on the Fibonacci retrecement and failed to continue with the larger bearish trend indicates that the markets have reversed to the upside. Therefore, the prices are expected to continue with the upward trend in the next few days, with a likelihood of reaching the 79.659 resistance levels, which will then determine if the prices move up or down depending on whether the crypto moves out of the structure.

Dash intraday day using 4-hour charts

Dash price analysis: Prices trending up past $66 level 2
Image source Trading view

The prices have broken our of a desceding channel to the downside withing the last few days. The prices have also tested the support levels at $64.885 twice with no success.The last few hours shows that crypto currency gaining momentum to the upside, which could spell the beginning of an upward move.

Short term intraday traders, could therefore look for long opportunities on the four-hour charts, in which the price action shows that it has just started its upward move. The prices are expected to continue their upward trends, breaking yesterday’s highs and likely to hit the $74.112 pivot resistance level. Previous analysis of the Dash crypto indicates that the crypto has been stable for days.

Dash alternative trading opportunity to the downside

A major alternative likely scenario for short term traders is that the crypto will continue with its intraday bullish move. However, it will not be able to push past the $74.112 pivot resistance level, indicating that the crypto has not reversed its long term trend.

This will mean that that the resistance will hold, and this will trigger another bearish move that may end up breaking the support level of $64.885. This indicates that short term traders can find opportunities for both longs and shorts in the next few hours.

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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