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- DASH coin price has reached the heavy resistance zone where the last top was made
- DASH coin has symptoms of weakness as the volumes have declined considerably
DASH price had made its last high $146.7 because of a crucial resistance zone. The coin has reached the same levels again and shows weakness as the support is at a considerable distance and the volumes have declined significantly. The market cap and 24-hour volume are $1,355,823,797 and $2,571,004,265 respectively.
Dash Price Entering Into Consolidation, Possibly
DASH price, reaching the resistance, has given a small bearish butterfly candle in today’s session, which shows a possible commencement of profit-booking. The resistance zone is also accompanied by R1 Pivot Level(left image), which shows significant resistance.
The volume analysis indicates a lower volume in recent sessions. The price range volume analysis suggests that the sellers’ volume is somewhat equal to buyers’ volume, and hence it might consolidate the coin.
The price is in the bullish trend as the price sustains above 10EMA($120), 20EMA($117), 50EMA($110), and 200 EMA($94). Also, 10EMA giving a bullish crossover 20 EMA, another indication of the bullish trend.
The Bollinger Bands favors only the upside as the lower band is contracting at $$98-$100(support) while the upper band continues to expand but restrict the price at $141. The median(10EMA) is a support at $120.
The RSI is at 67.3 levels, which is a significant resistance level. If the indicator sustains the level, it might rise to 80, carrying the price towards the previous high of $160.
The MACD(8,21,5) indicates a divergence in the signal line and slow line. A divergence is more than the average gap between a signal line and the slow line, which often occurs at the end of a trend, and price may consolidate thereon. Hence the price might go under consolidation at the current levels if the resistance is not broken.
Conclusion –
DASH coin price has reached a strong resistance zone where there is some profit booking spotted in intraday levels. The indicator also suggests a mild bullish or consolidated trend for the coin.
Support: $120(10EMA), $117($20EMA), $110(50 EMA) and $100(Lower BB)
Resistance: $141(Resistance zone and Upper BB) and $160(Previous Top)
