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- Dash coin saw a sharp rise after accumulating below the psychologically rounded level of $100 and gained around 10% of its cost this week.
- DASH crypto price remained well above the 20,50 and 100-day moving averages but still below the 200-EMA line.
- The DASH/BTC pair price is trading bullish by 4.35% at 0.003001 Satoshis.
The DASH coin has been seen in a consolidation phase in a narrow horizontal position for the past several days. It looked like the bulls had successfully caught the bullish trend last week, but near the psychological round level of $100, the Dash coin faced an accumulation phase and finally, on March 19, the price of the bulls asset managed to push it above $100.
DASH coin has frequently been trading high for the past 3 weeks and has gained almost 51% of its cost in just 15 days. Therefore, at the time of writing, the digital asset is up 7.45% to $128.05 (according to CMC data). Instead of a bullish zone, the bulls also have a resistance zone (red) where the triple top pattern is forming. Moreover, the DASH/BTC pair is trading higher by 4.35% at 0.030001 Satoshis.
In terms of the daily price chart, Dash Crypto is trading above the red moving lines of the EMA Ribbon Indicator. Buyers are approaching the 200-EMA line of the indicator. However, the coin lost 19% of the trading volume in the previous night and the daily volume bar remained above the moving average. Furthermore, the volume to market capitalization ratio is 0.4222.
The Ichimoku indicator produced a bullish trend
In terms of the daily price chart, the Ichimoku indicator gave a bullish signal on March 21. Thus, the RSI is looking towards an overbought zone on the daily price chart. Furthermore, the Average Directional Index (ADX) is at 18-points, which indicates a lot of bullish momentum for the DASH coin.
Conclusion
No doubt, the bulls caught on to the trend of Dash coin, but there is still a bears’ supply area (red) near the $150 level. If the bulls manage to sustain the price above the $120 level, we can expect $150 by the end of the month.
Support level- $100 and $120
Resistance level- $150 and $200
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
