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•DASH/USD is currently priced at $107.67 and has increased by 1.52% over the past day
•The trading volumes have increased by 13.96% over the past day
•The technical indicators suggest a bearish outlook for the near term
Short Term View: Dash Coin facing hard times
The Dash price today is $107.67 USD with a 24-hour trading volume of $199,002,487 USD. Dash Crypto is up 1.52% in the last 24 hours. The trading volumes have increased over the past day, with some profit-taking occurring at the current price levels. The Volume to Market Cap Ratio stands at 0.1731 for the altcoin.
As long as technical levels remain the same, there is a chance that Dash Coin would plunge towards the support placed at $98. Similarly, bulls rallying to take the altcoin’s price towards the resistance placed at $124 would be key to the bulls as it would provide incentive for them to stage the next rally towards $140. The altcoin is currently transacting above the 20 SMA but below the 50 SMA on the four hour chart, suggesting indecision on the part of investors. The asset is trading significantly below it’s all time high of $1,642.22 which it clocked on Dec 20, 2017.
Long Term View for Dash Crypto
The RSI for Dash Coin is showing a reading of 43.87, thus giving off a neutral signal. It is gradually heading towards the oversold territory. The MACD and signal lines reflect a gradual reversal below the zero line as the intensity of bearish histograms has increased over the past few days. This comes as a huge incentive to the bears for their efforts and the prices are likely to remain in a downtrend for the near term.
Conclusion
Dash Crypto has been unable to turn its situation around as the market is still favoring the bears. The volatility for Dash Coin remains high as it has shown no indications of improvement in the short run.
Support: $98
Resistance: $124-$140
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 the 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.
