Technical Analysis for DSHUSD for 5th January 2023
DASH Bulls Unwind November Losses, Surge 50% as Buyers Target $50
Past Performance of DASH
DASH is firm at spot rates. As an illustration, the coin is up five percent in the past 24 hours and 50 percent from November 2022 lows. In a breakout formation above the bear flag, there could be more upsides in the short term as buyers target $50.
DASH Technical Analysis
Prices soared on January 4, looking at the daily chart. Because of this, DASH buyers added to their longs, reversing the losses of early November. Aggressive traders can look to double down, adding their longs as long as prices are held above the support trend line and $40. Their immediate target could be $50 and later $57, or August 2022 highs. Any contrarian formation will question the strength of the uptrend, drawing sellers from November 8 and 9, bars that continue to shape the present formation from an effort-versus-result perspective.
What to Expect from DASH
Bulls are upbeat and expect more. Following yesterday's gains, buyers may be in for more upsides as prices retest critical resistance lines in the short term.
Resistance level to watch: $50
Support level to watch: $40
Disclaimer: Opinions expressed are not investment advice. Do your research.
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