Technical Analysis for DSHUSD for 6th April 2022
DASH Strong Resistance at $140, Prices Consolidate in a $20 Zone
Past Performance of DASH
DASH is stable when writing, boxed in a tight $20 range with caps at $120 on the lower end and $140 on the upside. Technically, the coin is in a bullish breakout formation following the sharp, high volume close above the descending wedge. At spot levels, the immediate support is at $120 and the 20-day moving average, while resistance is at March 2022 highs.
DASH Technical Analysis
The DASH price is within a protracted sideways movement as per the formation in the daily chart. Buyers appear to be in control following the sharp, high volume upthrust in late March 2022. Presently, DASH prices are within a potential flag. Reaction at $140 and $120 would shape the immediate to medium-term trend, providing opportunities for traders to ride. A close above $140 with rising trading volumes will confirm buying pressure from March 20. This breakout would be the base for a swing higher towards $155—Q1 2022 highs. Conversely, losses below the middle BB and $120 may see DASH prices drop to $105 in a retest.
What to Expect of DASH
DASH is in a bullish formation with resistance at $140. In a consolidation inside a tight trade range, the breakout direction will determine whether the current sideways movement is consolidation or distribution.
Resistance level to watch: $140
Support level to watch: $120
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