DASH Consolidates, Faces Strong Resistance at $140
Table of contents
Past Performance
DASH is in a tight trade range as per the formation in the daily chart. The coin is in a bullish breakout formation, clearing $105 but capped at $140. It could tear higher or pull back in a retest depending on the breakout direction.
DASH Technical Analysis
As per the technical candlestick formation in the daily chart, the coin is in a bullish breakout formation above the descending wedge. The coin is bottoming up at spot rates, firm above the $120 support level flashing with February 2022. At spot rates, aggressive traders may load on dips above $120 and the positive inclining middle BB. However, since prices are consolidating, printing lower lows versus the upper BB, there could be precise entries above $140 or below the middle BB, depending on the breakout direction. A close above $140 may see DASH expand to Q1 2022 highs of around $155 in a bullish continuation pattern.
What to Expect?
DASH traders are buoyant at spot rates regardless of the consolidation. Provided prices are trending above the middle BB and $120, bulls have the upper hand as the current consolidation turned to be accumulation.