Previous article DASH targets fresh rally to $140 amid a growing bullish scenario Next article Worlds First Bitcoin ICO Presale Ends 15th March Buy Now Buy Now Worlds First Bitcoin ICO Presale Ends 15th March Buy Now Buy Now Home Latest Cryptocurrency News DASH targets fresh rally to $140 amid a growing bullish scenario DASH targets fresh rally to $140 amid a growing bullish scenario By - min read 25 January 2021 Dash (DASH) is likely to break above $120 in the next few sessions to see bulls target a fresh upside towards $140 Dash (DASH) has traded higher over the past three days and could record a fourth consecutive green candle to boost the bulls’ case for more gains. This comes after selling pressure saw bears push prices from a 7-day high of $134 to lows of $94 this past week. Bulls were able to reclaim control over the weekend and have pushed higher, although seller congestion around $110 has somewhat stalled progress during early sessions this Monday. DASH/USD The short-term technical outlook for Dash suggests bulls have the upper hand as long as the price stays above $105. The price level offers a solid support zone, with a nearby cushion above it at the 50-SMA ($106). Below it there’s a month-long ascending trendline that has prevented sellers from taking DASH/USD under $100 for the past four days. DASH/USD daily chart. Source: TradingView Further optimism for buyers is supported by the golden crossover of the 20 over 50 simple moving average on the daily chart. The 20-SMA curve is extending higher and widening the gap over the 50-SMA to suggest the uptrend is strengthening. Currently, there’s overhead resistance provided by a previous horizontal line at $113, above which increased buying could push DASH price to the 20-SMA ($117). Above this price level, bulls face strong resistance at $120, which is just above the 0.618 Fibonacci retracement level ($119.59) of the downswing from $159 high to $94 low. If bulls succeed in breaking above and sustaining momentum above $120, the next hurdle is at $127 (0.5 Fib level) and $134 (0.382 Fibonacci level). DASH/USD hourly chart. Source: TradingView On the hourly chart, DASH/USD looks to have invalidated a potential head-and-shoulders pattern with a neckline around $104. If prices move higher, bulls could break past the upper trendline of an ascending triangle pattern with a barrier at $110. From here, legitimate targets are at $113 and $120, which are likely to be the main hurdles to the upside to $140. The positive divergence of the RSI suggests bulls have the upper hand at the moment. On the contrary, a downward move could see DASH/USD retreat to the 20-SMA ($106) and 50-SMA ($107) on the hourly chart. Any losses beyond this could take Dash price to the robust support zone around $105. Recent lows of $94 provide further attraction to shorts near term. Share this article Categories Analysis Tags Dash News