- Dash price soars above channel support as bulls sit comfortably in the driver seat.
- DASH/USD is supported by the 50 SMA as well as the primary support at $80.
The majority of cryptocurrencies are posting gains for the second day in a row this week. Dash is among the best-performers on Thursday after advancing 2.27% higher from an opening value at $87.25 to $89.52 (market value). DASH/USD has already tested the hurdle at $90 and remains bullish in the fight to sustain gains above the hurdle.
The bullish action also made it among a key channel resistance, further cementing the bulls’ position on the market. Dash price immediate downside is guarded by the 50 SMA in the 4-hour range while the longer-term 100 SMA is in line to hinder growth at $97.46.
From a technical perspective, the surge above $90 is still possible as the RSI shows buyers gaining traction against the bears. The bulls-eye remains at $100 but depends on the action of the buyers after breaking the resistance at $90.
The Elliot wave Oscillator points out that there is minor or no bearish action expected in the current and upcoming sessions. However, if push comes to shove and bearish forces take over, we could see a downward reversal towards $80. A primary support between $80 and $85 is bound to come in handy in case of such extended declines.
DASH/USD 4-hour chart
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