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DASH Price Analysis: DASH’s price action suggests a bullish sign but bulls are not indulging for now 

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  • DASH coin looks bullish in terms of the daily price chart after returning from its 90-day low.
  • Important EMAs such as 20, 50, 100, and 200 are staying above the current price of Dash Coin on the daily price chart.
  • The DASH coin belonging to the bitcoin pair is trading at 0.00209 satoshis, which is slightly up 0.4%.

The DASH coin has been following the recovery after reversing from the 90-day lowest level on the daily price chart. Meanwhile, the price action shows higher-highs and higher-lows formation on the hourly price chart. 

Source: DASH/USDT by Tradingview 

Last night, the price action of the DASH coin suggested a Dragonfly Doji candle on the weekly chart. Thus, the altcoin is trading at the $61.9 mark at the time of writing with no price changes in the weekly price scale.

At the time of writing, the DASH coin has a market cap of $664 million, according to data from CMC over the past 24 hours. Furthermore, the DASH coin belonging to the bitcoin pair is trading at 0.00209 satoshis, which is up a little over 0.4%.

  The daily trading volume bars are below the average moving line (blue), hence the need to increase volume in the intraday trading session. DASH bulls need to deposit themselves to increase the volume in their favor.

The 20 EMA acts as a most recent bullish hurdle

Source: DASH/USDT by tradingview

In terms of daily price, important EMAs like 20, 50, 100, and 200 are staying above the current price of the Dash coin. The bulls still have an important selling point near the 20 EMA which could affect further bullish rally.

The daily RSI indicator is moving towards the semi-line (50 points) after reversing from the oversold area.

conclusion

As soon as possible, the bulls must submit themselves to register the recovery phase of the DASH coin. DASH investors need to wait for any directional changes on the price chart. On the other hand, bears could hamper the bullish momentum of the DASH coin.

Resistance level- $65 and $100

Support levels- $55 and $45

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.

ALSO READ: What Will Happen To $26 Billion Staked In Ethereum 2.0 After Merge?

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