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- The DASH price has begun a recovery over the daily and hourly price chart. The bulls need to be consistent to make it successful
- The crypto asset is trading below the 20, 50, 100 and 200 days moving average.
- The DASH/BTC pair is at 0.002218 BTC with a loss of 0.33% in it.
The DASH price after a strong downtrend movement has now started recovering over the daily price chart. This means the DASH bulls are back to the market but this recovery is not enough so the coin needs to attract more buyers to make this trend reversal successful as the price is still moving below the exponential moving average.
The trading volume is at a loss of only 2% which is recovering slowly, which in turn will pump the price. As the price fell very low a demand zone was created which is uplifting the price and while the bulls are busy in making a green move, they should be prepared for the back fire as the bears are not the spectators here they will definitely interrupt the process.
The price for one DASH coin is currently trading at $43.18 which is at a gain of 0.74% in its market capitalization in the last 24 hrs. The coin has a trading volume of 68 million with a loss of 1.59% over the intraday trading session and a market cap of 466 million. The volume market cap ratio is 0.147.
What do Technical Indicators Suggest?
The technical indicator MACD was just about to exhibit a negative cross by the sellers signal line on the buyers line but now as the buyers has again started dominating and the green histograms has started growing again. The gap between the two lines will increase and now the trend reversal will begin. In support of the above the relative strength index took an upward turn and is now indicating the increase in buying volume as the price fell very low the investors may find this dip interesting which results in creating a demand zone which is pumping the price. The RSI value is nearly equal to 40.
Conclusion
The DASH price after a strong downtrend movement has now started recovering over the daily price chart. As the price fell very low the investors may find this dip interesting, resulting in creating a demand zone which is pumping the price. While the bulls are busy in making a green move, they should be prepared for the back fire as the bears are not the spectators here. The technical indicators suggest an end to bearish dominance here.
Technical levels
Resistance levels: $48.6 and $53.5
Support levels: $39 and $35.5
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
