Dash (DASH) Analysis: Dash Coin Value Bounces Back After Touching Critical Support Area

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  • Dash Coin Value looked to regain the bullish regime during the current market session with a positive breakout above $130
  • The price levels received a positive bounce back after touching the critical support point placed at $110
  • The DASH/BTC pair also turned positive with an overall gain of 0.13% bringing the current level to 0.003733 BTC
Source: Coinmarketcap

The weekly chart of Dash reflects on the significant negative retracement faced by the price levels after suffering a negative breakout below the crucial mark of $130. The crypto asset sharply plunged to the crucial support point of $110.00 from which the bulls made a recovery. During the current market session, the price levels had a positive breakout above $130 indicating that the coin is looking to regain the bullish regime. Dash coin value is currently standing at $130.04 with a minor loss of -0.47% bringing the market capitalization to $1,272,204,919 resulting in a decline of 3.66%. The 24-hour volume traded has reached $1,948,278,697 causing a decline of -33.94%. 

Dash Coin Value Forming Consolidation range on Technical Chart 

Source: tradingview
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The technical chart of Dash highlights the negative retracement faced by the price levels after testing the critical resistance level of $160.00. The bearish trend for Dash coin value ended after the major support level of $110.00 came into play. During the current market session, the price levels looked for a positive breakout from the descending triangle pattern. It was also observed that the price levels are looking potential to form a consolidation range between 0.618fib level to 0.382fib level.

The relative strength index (RSI) is showcasing a positive nature with the current level of 53.29 and will be looking for a positive breakout to the overbought region in the upcoming market sessions. 

The moving average convergence & divergence (MACD) levels have consolidated on the histogram line. 

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The commodity channel index (CCI) had a positive breakout to the overbought region and sustainability over a longer timeframe can provide positive momentum to the price levels. 

Resistance Level: $135.00 & $145.00

Support Level: $120.00 & $110.00 

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

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