Home
News
- The positive momentum for Dash is finally back after suffering heavy price damage from the past few days.
- The DASH/BTC pair is also performing positive with a gain of 0.44% bringing the current level to 0.00583289 BTC
- If this positive move is sustained by the coin, it can have a short term target of broking above $70.00 again
The weekly chart of Dash highlights the gradual downturn which forced the price levels to drop to the major support level of $65.00 as the overall market conditions were against the bulls until Sunday’s market session. The crypto asset revived its buying volume with the returns of the bulls in the overall market sentiment and broke above $66.00. The CMP is at $66.66 with a gain of 1.31% bringing the market capitalization to $650,954,929 and the 24-hour volume traded of $571,321,091.
Techincal Levels Turn Bullish for DASH
The technical chart highlights the significant downtrend faced by the Dash in the past month which forced the price levels to drop below 0.236fib levels. Later, the digital asset was able to make a comeback which significant price recovery action at the starting of this month which formed a bullish curve. However, the major resistance placed at 0.382fib level again halted the positive move and the coin went below 0.236fib level. Currently, there has been a revive in the positivity of the price candles again.
The directional movement index is currently not supporting the bulls as –DI(26.10) remains close to ADX(29.78).
The commodity channel index is improving its levels after reaching the depth of the oversold region. The current level stands at -6.97
The relative strength index avoided the oversold region which can be a positive sign for the altcoin and looking for a recovery in the levels. The current levels stand at 45.25
Will Dash Retest the Resistance Level of $70.00 Further Ahead?
The current levels reflect that the cryptoasset still has to build the significance of this bullish move to the price level of $69.00 which requires an ideal magnitude of sustainability over the price levels by the bulls. The overall market conditions should also favor the digital asset at the same time.
RESISTANCE LEVEL: $70.00
SUPPORT LEVEL: $65.00
Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.
Download our App for getting faster updates at your fingertips.
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.
