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- The DASH price currently trades at $54, with a 9% uptick in the 24-hour trading volume.
- DASH price observed an increase of 8.86% in the last 24 hours.
The price of a DASH token is presently consolidating below the demand zone. The consolidation suggests there is a state of indecisiveness among the market participants. However, that may change as the price recently made a long bearish candle. The oscillators are moving toward the demand zone.
In early March, DASH price started trading within a bearish trend. The price of Dash broke below the consolidation range with a strong momentum giving a downfall of 40% within a few weeks. However, it made another attempt to resume its bull trend. After retesting through its previous trend line, Dash started moving within a range near the 200 and 100 EMAs.
DASH Price Trading Under the Supply Zone
Source: DASH/USDT by TradingView
Technical Analysis
Source: DASH/USDT by TradingView
The RSI line recently crossed below the median and 14 SMA lines. As of now, the value of the RSI line is 41.98 points, below the 14 SMA, which is at 49.88. The RSI line is giving bearish signals indicating a bearish reversal shortly.
The stochastic RSI is taking rejection from 70 points in the overbought levels. The current value of stochastic RSI is 40.18. The %K line recently crossed below the median line, and the %D line is following it, steadily moving near the oversold levels.
Conclusion
As per the analysis, the price of the DASH coin is giving bearish indications after a sharp decline of 37%. If it breaks below the consolidation channel, it can give a correction of 10%. The support level for the DASH price is around $54.00, and its primary support level is at $48.00. The resistance point for the price of DASH is near $64.80, and its significant resistance is $60.00.
Technical levels –
Support -$54.00 and $48.00
Resistance – $60.00 and $64.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
