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Technical Analysis for DSHUSD for 17th March 2023

DASH Uptrend Valid Despite 30% Correction from February High

Past Performance of DASH

Following steep losses on March 15, DASH remains under pressure. The short-term trend is bearish, and prices are inside a bull flag. For this to change, prices must break above the descending channel, piercing above $60 with increasing participation.

DASH Technical Analysis

DASH is within a bear formation at spot rates. As it is, resistance remains at $60 while support lies at $45. Though the March 15 bar is engulfing and bearish, it is with light volumes. At the same time, the primary trend is bullish, defined by gains from November to February 2023. To illustrate, DASH support at $45 marks the 78.6% Fibonacci retracement level. For buyers to swing back to contention, there must be comprehensive gains above $60. Therefore, conservative traders can wait, aware that gains above $60 may lift DASH towards $75 in the near term.

What to Expect from DASH

DASH is technically bullish from a top-down preview despite the 30% drop to spot levels. This preview holds provided prices are above $45 and every correction from February highs is with decreasing volumes.

Resistance level to watch: $60

Support level to watch: $45

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

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