- The first important support is created by $90.00.
- The coin needs to move above $91.00 for the upside to gain traction.
Dash is the 16th largest digital asset with the current market value of $818 million. After a strong growth into the ned of the previous week, the coin has settled at $90.80, trading with a short-term bullish bias. DASH/USD has recovered from the intraday low of $88.98, however, the upside may be limited by $91.00.
What’s going on
The platform’s recent developments have been supportive of the price. Thus, the US-based Coinbase added the coin to the list of tradable assets available for pro account holders. This event created strong bullish momentum and helped to push the price towards the recent high of $98.08.
Apart from that, the coin was listed by a decentralized exchange AtomicDEX launched by Kodomo. Also, Dash is gaining popularity in South America, as Venezuelans now have access to Bitcoin ATM with DASH support.
As for the negative developments, DASH has been recently delisted from two South Korean cryptocurrency exchanges.
DAHS/USD technical picture
Looking technically, DASH is trying to break an immediate resistance $90.70, created by SMA50 (Simple Moving Average) on one hour chart. Once it is created, the upside may be extended towards $91.00. The ultimate resistance awaits us on approach to $93.00. This area is guarded by the lower line of one-day Bollinger Band and SMA50 daily.
On the downside, the critical support comes at $89.00. SMA100 and the lower line of Bollinger Band on one hour chart are located right below this barrier. Once it is out of the way, the downside is likely to gain traction with the next focus on $87.20 (SMA200 one-hour).
DASH/USD, one-hour chart