The 0.0114 level has become fairly important in the last four days. Since the 6th of March, the market attempted to break above this level about six times. On the 6th, this level also acted twice as support. The market finally broke above this level today and the 0.0114 pivot will probably now turn into support.
DASH is now trading around 1.24, which happens to be above the 0.012 pivot zone. The 30-minute charts shows that this level has been used extensively in March; twice as resistance, five times as support. Price has broken above two key pivot zones today, and unless price plunges back under 0.0114, the past of least resistance seem to be up.
The 4-hour chart shows that the 0.01 pivot level – which I have outlined in several of my previous DASH technical analysis articles, is still very important from a technical viewpoint. The market spend most of February trading under this level, and once price broke out on the 3rd of March, 0.01 turned into support several days later, on the 8th. This is a major pivot zone that should be marked on every trader’s chart.
Disclaimer: This is not trading/investment advice!
Chart source: https://poloniex.com/exchange#btc_dash
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.