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Technical Analysis for DSHUSD for 11th April 2023

DASH Recovers after Dropping 11%: Support Lies at $55

Past Performance of DASH

Like the rest of the markets, DASH prices are recovering, pushing higher at spot rates. This follows a cool-off from March highs that saw the coin drop 11%. Presently, the immediate support line lies at around $55. Since yesterday's bar is wide-ranging and bullish, traders may look to accumulate on every attempt. However, more opportunities could be above $60, opening the door for continuation above $65 in the days ahead.

DASH Technical Analysis

The retracement from $65 was with light volumes after a sharp leg up from mid-March. With DASH finding support at $55 and rebounding higher in a three-bar formation, traders can look for opportunities. Since yesterday's bar has high volumes, there are hints that price action is aligning with buyers from mid-March. Accordingly, traders can begin buying on dips, in line with buyers of March 12 and 13, with targets at the climactic bar of March 23. Any unexpected retracement below $55 cancels this preview, even forcing DASH toward $50.

What to Expect from DASH

DASH prices may be in the early stage of recovery after a cool-off from March peaks. Even though prices may push higher, it is ideal that the push is with expanding volumes to support optimistic buyers. A close above $60 may be ideal, founding the base for $65 in short to medium term.

Resistance level to watch: $60

Support level to watch: $55

Disclaimer: Opinions expressed are not investment advice. Do your research.

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