Technical Analysis for DSHUSD for 11th April 2023
DASH Recovers after Dropping 11%: Support Lies at $55
Past Performance of DASH
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
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