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.
For more interesting tips and facts visit our Education Centre.
Have Questions?
We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!
Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
CryptoAltum does not accept any clients under the age of 18.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
CryptoAltum does not accept any clients under the age of 18.