DASH is approaching a crucial level that could determine its trend.


  • We observe a support at $62 and a resistance at $86.
  • The price moves in a bevel or a descending triangle.
  • DASH is probably nearing the end of its correction.

DASH appears to be approaching the top of its current pattern. A decisive movement out of it will therefore be crucial in determining its next trend.

The DASH has been declining along a resistance line since its low of $198.80 in May 2019. The slope of this line is not entirely clear due to the presence of many long upper strands.

Long-term DASH levels

More recently, the course has started an upward movement, between March and August 2020. It is now approaching the $61 support level, which corresponds to the fibonacci level of the upward movement mentioned above.

If this zone manages to start a rebound and the DASH begins to rise, the closest resistance zone will be at $86, coinciding with the downward resistance line.

Lack of confirmed data

The daily time scale offers signs of a possible bullish turnaround, but these are not confirmed. The strongest signal comes from the growing bullish divergence in the RSI. In addition, the MACD has also generated bullish divergences, and is on the rise.

That said, the Stochastic Oscillator has formed a bearish cross once again, raising doubts about the bullish scenario.

The daily chart shows a possible downbeat, which has an unusual formation. The price is rapidly approaching the convergence point between resistance and support, indicating that a decisive move could take place soon.

That said, the 6-hour chart shows a possible descending triangle, which is normally considered to be a bearish pattern. In addition, each rebound in the $65 minor zone has been weaker than the previous one. This is a sign of diminishing buying pressure.

Thus, a movement out of the resistance or support zones will be necessary to determine the future trend.

Waves of DASH

Cryptomurrency trader @Tradingsurfers relieved a chart showing a long term wave count. The latter presents two options: a bullish scenario towards new annual highs, and a bearish scenario towards new annual lows.

The most plausible count suggests that the DASH would be completing a correction in W-X-Y (in black below), and is currently in the final C wave (in blue).

So far, the price has reached the bottom of wave A at $61.30.

Further observation indicates that the price is probably in the 5th and final sub-wave (in red) of wave C, and will probably eventually rise after descending to a new low.

A likely target for the bottom of this movement would be between $55.20 and $59, the fibonacci levels 2.21 and 2.61 of wave 1. This target also coincides with the long-term support level outlined in Section 1.

In conclusion, until the price of the DASH has moved above or below its current pattern, the direction of the future trend cannot be properly determined due to ambiguous signs.