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- Dash has broken positive above the crucial price level of $70.00
- The DASH/BTC pair is also performing positive with an overall gain of 2.48%
Dash has finally climbed above the price level of $70.00 after making several attempts in the market. The resistance level was providing some serious reversals to the crypto asset which also forced the levels to drop to the major support price of $45.00 during an attempt. Dash current price is placed at $73.50 with an overall gain of 3.31% bringing the market capitalization and 24-hour volume traded to $697,499,556 and $692,746,126 respectively.
The weekly chart reflects on the significant bullish recovery made by Dash from the past week. The bullish rally gained momentum from the price level of $64.00 and went to the peak point of $73.00. A slight profit booking momentum or price correction can be expected as investors are having a rational selling price on their hand for the cryptoasset. However, it must try to sustain above the newly derived support level of $70.00 this time for capitalizing on this bullish move further ahead in the market.
Technical Levels Are Backing The Bulls
Dash technical chart reflects on the downtrend faced by the digital asset in the past month which is followed by the current price recovery action. The price candles have managed to break above 0.236 and 0.382fib levels respectively which is a significant positive signal. For capitalizing on this bullish move, the price levels need to move above the curve drawn. However, the next resistance placed at 0.5fib level will surely be waiting for the bulls to arrive.
RSI levels have shown gradual positive momentum in the market for DASH. The current level stands at 55.97.
CCI levels have also shown gradual improvement in the levels and currently held in the overbought region. The current level stands at 47.11.
MACD levels are moving with extreme bullish nature with the help of a bullish crossover.
Where DASH Can Be Headed?
A minor price correction activity can be expected for the coin until the support level of $70.00. If the support level is broken, the cryptoasset might lose its gained positive momentum. On the upper side, it is strongly targeting the crucial price level of $80.00
RESISTANCE LEVEL: $73.00 & $80.00
SUPPORT LEVEL: $70.00 & $65.00
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Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
