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- 1 Dash price prediction suggests the price may show a pull back rally in coming months.
- 2 DASH crypto price struggles to climb above the 50 day EMA.
- 3 The pair of DASH/BTC is trading at 0.001135 and stuck into narrow range consolidation.
Dash price prediction suggests a rise and short term pull back is expected in coming months. Dash crypto price is near to the demand zone and buyers are trying their best to rebound.
Dash price gained 6% approx in the past 2 trading sessions and is trying to climb above the 50 day EMA.
If buyers succeed to climb above the 50 day EMA then the short term trend will turn upward. However, the 200 day EMA sloping down will act as the next hurdle for bulls.
In the mid of June, Dash price took support near $28.00 and slowly began to recover from the lows. It recovered 39% approx from the lows and attempted to break the $40.0 hurdle.
Dash crypto formed an inverted hammer candle near $40.00 which shows the presence of sellers. Later, prices faced rejection and again reverted in a downward direction.
Dash price returns back to the demand zone and the downfall seems to be getting halted near $30.00. Dash price trading at $33.10 with an intraday rise of 1.88%. The 24 hour volume to market cap is 15.34%.
Will Dash Price recover from the demand zone?
Dash price prediction remains bullish for the long term till it holds the $28.00 level. Buyers showed minor bounce from support but prices will gain momentum only after breakout of $40.00.
Till Dash crypto price sustains above $28.00 the possibility of bounce back remains high. However, if the price faces rejection from the EMA then it is likely to spend some more time in consolidation.
On the other hand, If Dash crypto price drops below the $28.00 level then it may raise concern for the long term investors. The technical analysis suggests that the downside in Dash crypto looks limited and probability of reaching $40.00 is high.
Will Dash crypto price give follow up momentum
Dash crypto price bullish hammer candle on the previous week. Buyers are trying to give follow up momentum to regain the confidence of investors. However, the crypto leader BTC price is mildly bearish which might negatively impact the market sentiment.
The MACD curve rises upward and the histogram bar is green. It shows that the bulls are returning back to track. The RSI at 52 slopes north denotes mild bullishness and more room for upside is open.
Conclusion
Dash price prediction suggests short term pull back is possible in the coming months. Dash crypto price is near the demand zone so the downside looks limited. If Dash prices climb above the 50 day EMA then the probability of reaching $40.00 will increase.
Technical levels
- Resistance levels: $40.00 and $45.00
- Support levels: $30.00 and $28.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
