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Technical Analysis for DSHUSD for 29th November 2022

DASH Buyers, Coin Surges 33% from November Lows

Past Performance of DASH

DASH prices are solid at spot rates, pressing higher to retest last week's highs. Despite the sell-off early this week, today’s bounce is an indicator that buyers are in control. As it is, DASH is up 33 percent from November lows. Because of the trend set last week and prices rejecting lower lows above $37, traders might find entries aiming to align with the trend of the November 23 bull bar.

DASH Technical Analysis

DASH, in response to shifting sentiment, briefly fell on November 28. Nonetheless, buyers are presently in charge per the candlestick arrangement in the daily chart and the sharp expansion in prices points to general optimism. A notable formation is that the November 28 bullish engulfing bar defines the short term. The bar has high trading volumes, even higher than November 8 and 9. At the same time, prices are still within this bar, pointing to strength from an effort versus result perspective. Buyers can look to load the dips above $37, targeting $44 and November highs at $47. Any sell-off below $37 might attract sellers, forcing DASH even lower, invalidating the current bullish outlook.

What to Expect from DASH

DASH bulls are confident, partly because of fundamental factors and solid candlestick arrangement. As long as prices are steady above $37, DASH may rally, building on last week’s gains, to new Q4 2022 highs in the medium term.

Resistance level to watch: $44

Support level to watch: $37

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

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