- Dash price is supported at $220, the 50 SMA and the trendline will both offer more support above $217.5.
- DASH/USD is currently trimming gains, besides technical indicators show that the path of least resistance is to the downside.
Dash price exploded in fireworks on Wednesday during the Asian trading hours. The bullish trend was initiated around $212.5 and a break above the short-term resistance at $215.0 led to an unexpected spiked in an engulfing bullish candle. The engulfing candle retraced past several Fib levels but lost steam short of the 61.8% fib retracement level with the previous swing high of $232.97 and a low of $211.96.
A slight lower correction followed shortly after trading above $223.00, but the trendline support came to the rescue of the buyer at $213.83. DASH/USD embarked on another sustained path upside and is currently pivotal on the 50% Fib retracement level. The stochastic is, however, heading south while the MACD on the 15-minute chart is heading towards the negative region to say that the buyers are losing grip and the sellers are seeking an entry slightly below the 50% fib level. Dash price is supported at $220, the 50 SMA and the trendline will both offer more support above $217.5.
In other news, AtomicWallet; the “The first Multi-assets Wallet with Decentralized Atomic Swap Exchange,” has announced its support for DASH. The announcement was made via Twitter in rather, a comical, stating:
“Welcome @Dashpay in @AtomicWallet. The easiest way even for your grandmother to manage and swap digital currencies! #DASH Download app at.”
DASH/USD 15-minutes chart
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