#DASH Recovers after Dropping 11%, Support Lies at $55Past Performance of DASH
Like the rest of the markets, DASH prices are recovering, pushing higher at spot rates. This follows a cool-off from March highs that saw the coin drop 11%. Presently, the immediate support line lies at around $55. Since yesterday's bar is wide-ranging and bullish, traders may look to accumulate on every attempt. However, more opportunities could be above BMV:60 , opening the door for continuation above HKEX:65 in the days ahead.
#DASH Price Analysis
The retracement from HKEX:65 was with light volumes after a sharp leg up from mid-March. With DASH finding support at HKEX: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 HKEX: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 BMV:60 may be ideal, founding the base for HKEX:65 in short to medium term.
Resistance level to watch out for: BMV:60
Support level to watch out for: HKEX:55
Disclaimer: Opinions expressed are not investment advice. Do your research.
