Technical Analysis for DSHUSD for 11th November 2021
DASH Pennant Breakout, DASH/USDT Prices Retract from $240 Despite Trader Confidence
Past Performance of DASH
The utility of DASH is clear, and this fact primes buyers. From the DASH daily chart, buyers are in a commanding position, breaking above a pennant.
What to Expect of DASH
The DASH technical analysis in the daily time frames supports buyers.
Encouragingly, DASH prices are galloping higher, clearing $210 and the wedge in a breakout pattern.
With rising trading volumes and confident traders, the potential buy target stands at August 2021 highs of around $290.
DASH Technical Analysis
Traders are confident on what lies ahead following the high volume close above $210 signaling strength.
Notably, the reversal of prices and pick-up of momentum from September 2021 lows flashes with the 78.6 percent Fibonacci retracement of the Q3 2021 trade range.
Technically, this is bullish. Following the close above $210, it is highly likely that DASH may retest the swing high at $290 in the medium term.
Even so, there could be a cause for concern if bears follow through November 10 losses, forcing DASH back to $210.
Resistance level to watch: $290
Support level to watch: $210
Disclaimer: Opinions expressed are not investment advice. Do your research.
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