DASH price analysis: DASH/USD declines to test key support, the crypto market swims in the sea of red

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  • All of the top three digital assets are battling to stay above the immediate support levels.
  • DASH price will encounter resistance at $270 and $280 (supply zone).

The cryptocurrency market has started yet another week with declines. All of the top three digital assets are battling to stay above the immediate support levels. For instance, Bitcoin price is trading exchanging marginally above $6,400, Ethereum price is fighting to keep the support at $490 while Ripple is over 2.5% while trading at $0.512. Most of the top 20 cryptocurrencies are showing substantial declines as well.

Dash price, on the other hand, is also battling to keep the support at $250. Similarly, the price is limited below the short-term resistance offered by the 50 SMA. DASH/USD changed hands marginally above $270 during the weekend trading, but sellers entered pushing it towards the critical support area.

The critical resistance rests at $270, which also coincides with the bearish trendline. The 61.8% Fib retracement level with the last high leg of $317 and a low of $242 will also limit the gains slightly above the key resistance level. The upper supply zone rests at $280 and a break above this level could have DASH/USD attacking the region around 300. On the downside, if the critical support at $250 fails, the cryptocurrency will be supported at $240 (last week low).

DASH/USD 1-hour chart

 

 

 

 

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