Dash Rallies Sharply, May Break the Resistance at $140

Azeez Mustapha
20 January 2020 | Updated: 20 January 2020

Key Resistance Levels: $110, $130, $150
Key Support Levels: $90, $70, $50

DASH/USD Price Long-term Trend: Bullish
DASH is presumed to be out of the downtrend zone as the bulls break above the resistance line. The coin reached a high of $140 but was repelled. DASH is likely to find support at a low of $100. DASH is now trading above the current support at $100. An upward movement is expected if the current support holds. A downward move is expected if the selling pressure continues.

DASH/USD - Daily Chart

Daily Chart Indicators Reading:
The Relative Strength Index period 14 is level 65 indicates that the price is above the centerline 50. This indicates the coin upward move is likely. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

DASH/USD Medium-term bias: Bullish
On the 4-hour chart, the coin is also in an upward move as the price reached a high of $140. The bears also resumed their selling pressure as the coin  fell to the low of $100. The upward move is likely as the support holds.

DASH/USD - 4 HourChart

4-hour Chart Indicators Reading
The market is trading in the oversold region of the daily stochastic which is above the 20% range. The coin is now in the bullish momentum as the market makes an upward move. The EMAs are pointing upward indicating the uptrend.

General Outlook for DASH
DASH is in a bullish trend as it makes an upward. The breaking of the downtrend line and price closing above it indicates that the bears market is terminated. The coin is making an upward move, although, facing some resistance. A break above the $140 resistance, will make DASH reach the high of $180.

DASH Trade Signal
Instrument: DASH/USD
Order: Buy
Entry price: $104
Stop: $80
Target: $160

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Azeez Mustapha

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.