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- The DASH coin is looking bearish again, having lost nearly 4% of its cost over the past 24 hours.
- The 20-day exponential moving average appears to be a significant selling level for short-sellers.
- The DASH coin belonging to the bitcoin pair is down 3.6% at 0.001946 Satoshis.
DASH coin reversed from the 20-day exponential moving average, converting its bullish trend into a pullback. The DASH coin was making a comeback after falling from a 90-day low on the daily price chart. On the hourly price chart, price activity is forming a lower-high and lower-low formation.
The DASH currency appears entirely bearish on both the higher and lower time frames, therefore the bulls are not making a higher approach. In the meantime, the DASH coin has lost approximately 8% of its value this week.
In an intraday trading session, at that time the DASH coin was trading in the red zone by the $56 mark.
Last week traders mentioned the Dragonfly Doji candle. At the time of writing, the DASH token had a market cap of $6088 million, according to CMC data over the past 24 hours. Furthermore, the DASH coin belonging to the bitcoin pair is trading at 0.001946 satoshis, which is up a little over 3.6%.
The daily trading volume bars are below the average moving line (blue), indicating that the volume must be increased during the intraday trading period. In comparison to the previous night, the DASH coin had a neutral trading volume of $143 million.
Is $50 Mark Trend Protecting level of DASH Investors?
The 50-day moving average appears to be a long volatility red zone. At the same time, the 20 EMA remains a significant selling milestone for the bulls, which may have an impact on future bullish momentum.
Thus the Relative Strength Index (RSI) is showing a sideways bearish trend for the DASH trend.
conclusion
DASH investors might expect a continuous slide to a 90-day low before a possible rebound. The trade volume bars are below the moving average (blue), indicating that more volume is required for a bullish trend.
Resistance level- $65 and $100
Support level- $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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
