In the past two days, the DASH digital currency has made it back above a major pivot zone. The 0.009 area – which I outlined in my prior technical analysis article on the 19th of February – has now turned into support. In fact, price used 0.009 as support about three times in the past two days.
The 4-hour shows a Head & Shoulders formation, which seem to be suggesting that the market may be getting ready to break higher.
As I described in my previous DASH article, the 0.01 is a big pivot zone and the market will very likely encounter problems once it hits this pivot. The 15-minute chart also shows another pivot zone at 0.0097. The market has bumped against this area five times since the 21st, and price has traded lower on every single occasion. If price can make it above 0.0097, and also above the big pivot at 0.01, then a real rally towards 0.012 is very likely!
Disclaimer: This is not trading/investment advice!
Chart source: https://poloniex.com/exchange#btc_dash
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