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- DASH crypto price is emerging above yearly lows.
- In the 4-hour chart, buyers are keeping the crypto price above the 20 SMA.
- The market capitalization increased by 3.5% to $388.6 million in the last 24 hours.
It looks like the strong downtrend of DASH crypto is over as the price reversed from the support level. The bears often fail to drag the cryptocurrency price below the $30 level. This round level is still valid as a key protection zone for the bulls. Despite a slight recovery, uncertainty still remains in the DASH crypto.
Against the USDT pair, the DASH coin is trading at the $35.28 mark at press time. The crypto market seems to be stable after the collapse of FTX, therefore, many cryptocurrencies are recovering. The DASH crypto is showing a bullish trend of 1.68% in the intraday trading session. Similarly, the DASH coin related to the bitcoin pair is up by 3.39% at $0.002113 satoshis.
In the 4 hour price scale, crypto remains under sideways to bullish trend as price action forms higher-lows formation after reversing from the $30 support level. Meanwhile, market capitalization increased 3.5% in the last 24 hours at $388.6 Million because Buyers hold crypto prices above 20 and 50 SMAs.
Before this sharp decline in November, DASH crypto was remaining sideways above $40 and below $43. Later on, buyers think that bears might sell-off ongoing recovery at the next round level of $40. However, trading volume is low this week, this could be the reason behind weak bullish strength in DASH.
Buyers well managed the crypto price above the lower-band of bollinger bands indicator over the daily chart. This support level provided growth in DASH coin and now bulls aim to hit the mid-band of bollinger band indicator. Specifically, the RSI indicator spiked rapidly towards the 50 mark after dipping into the oversold zone.
Conclusion
The DASH crypto price is gradually increasing higher above the yearly low level. RSI is going to reach a semi-line, which shows the price recovery until it touches the $40 mark.
Support level – $30
Resistance level – $40 and $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 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.
