Follow Us

DASH Price Analysis: Dash price sliding within a deep bearish well

Share on facebook
Share on twitter
Share on linkedin

Share

Share on facebook
Share on twitter
Share on linkedin

•DASH/USD is currently priced at $41.25 and has decreased by 6.39% over the past day

•The technical indicators suggest a bearish outlook for the altcoin 

•The trading volume has reduced by 1.78% over the past day

Short Term View: Dash Coin observes a strong move to the downside

The Dash price today is $41.25 USD with a 24-hour trading volume of $79,846,125 USD. Dash is down 6.39% in the last 24 hours. The trading volumes have remained stable over the past day, with only a slight decrease observed in the metric. The Volume to Market Cap Ratio stands at 0.179 for the altcoin.

Dash Coin clocked its all-time high of $1,642.22 on Dec 20, 2017, but has been a pale shadow of its former self in recent weeks and months. Dash Coin is currently in a downtrend and is transacting below the 20,50 SMA on the four-hour chart which poses a crucial resistance in the short term time-frame. The continued efforts of the bears could push the altcoin below the support level placed at $38. On the flip side, a renewed push from the bulls could flip the momentum in their favor and propel the asset towards the resistance level placed at $45.

Long Term View for Dash Coin 

The RSI indicator has succumbed to the bearish pressure as the RSI line has plunged below the 14-day average line. The RSI for Dash Coin is currently transacting at 38.90 and is gradually moving towards the oversold territory. The MACD indicator shows no signs of improvement as well, with the green bars on the daily chart about to give way to the red histograms, as technical indicators point towards the possibility of a bearish crossover occurring on the daily charts.

Conclusion 

In conclusion, the technical indicators for Dash Coin reflect the rising trend-momentum of the correction phase. Therefore, the indicators suggest a correction in Dash price below the nearest support levels.

Support: $38-$35

Resistance: $45-$50

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Rated Cryptocurrency Exchange

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00