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- Dash price is trying to surge back towards the upper price range of the consolidation phase at 2020 lows.
- DASH crypto still falters below 20, 50, 100, and 200-day Daily Moving Average.
- The pair of DASH/BTC is at 0.002169 BTC with an intraday gain of 0.51%.
On the daily price chart, the price of Dash is attempting to hold at the beginning of the consolidation period. To continue at the present level, the token must retain the momentum of the current advance. Bulls in DASH are pushing themselves to the utmost in an effort to maintain and allow DASH to rise above the consolidation period on the daily chart. Dash coin has now successfully exited the horizontal range-bound region that it had been in since June 25. The cost of the Dash coin has been stabilizing between $39.50 and $53.80. Meanwhile, DASH bulls must accumulate themselves to register the token’s breakout from the consolidation phase.
Currently, Dash’s estimated price is $46.77, and in the previous 24 hours, its market cap climbed by 1.00%. During the intraday trading session, there was a 19.26% reduction in trade volume. This demonstrates that traders are trying to take advantage of the opportunity to aid DASH in overcoming the consolidation phase. The volume to market cap ratio is 0.1401.
The daily price chart of DASH shows the price rising to approach the top trendline of the consolidation period. To see the breakout of the token, DASH bulls must gather. Bears could, however, halt the bullish momentum of the DASH currency at any point given that volume indicates that the rate of accumulation is limited. To avoid falling into any bearish traps, bulls in DASH must accumulate quickly.
What do Technical Indicators suggest about DASH Crypto’s Recovery?
On the daily chart, the price of DASH cryptocurrency has been on an uptrend. The DASH coin appears to be in an uptrend, according to technical indicators. The relative strength index (RSI) demonstrates the DASH coin’s upward velocity. The RSI is at 41 and is getting close to neutrality. The bullish DASH cryptocurrency momentum is visible on MACD. In preparation for a positive crossover, the MACD line is below the signal line. Investors in DASH must watch the chart for any directional changes.
Conclusion
On the daily price chart, the price of Dash is attempting to hold at the beginning of the consolidation period. To continue at the present level, the token must retain the momentum of the current advance. Bulls in DASH are pushing themselves to the utmost in an effort to maintain and allow DASH to rise above the consolidation period on the daily chart. Dash coin has now successfully exited the horizontal range-bound region that it had been in since June 25. Bears could, however, halt the bullish momentum of the DASH currency at any point given that volume indicates that the rate of accumulation is limited. To avoid falling into any bearish traps, bulls in DASH must accumulate quickly. The DASH coin appears to be in an uptrend, according to technical indicators.
Technical Levels
Support Levels: $45.00 and $40.00
Resistance Levels: $50.00 and $55.00
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.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
