Dash Price Prediction: Can DASH Crypto Reach $50 in 2023?

• 1 Dash’s price surged by 0.13% in the past 24 hours and is currently trading at $25.18.
• 2 Dash (DASH) price dropped below the key moving average of 50 and 200-day EMA. 
• 3 DASH price is showing consolidation near the swing low. 

The price prediction of Dash over the daily chart shows that the coin price is declining steadily to break below the three-year low. In December 2022, the DASH crypto surged after a long consolidation near the $40 level and reached a high of $78 by the end of February 2023.  

Thereafter, the price showed a strong decline, turning beaking below the previous swing low thus, shifting its long-term trend. Since then, the price has been declining forming lower lows and returning to its three-year low value of $25. 

Also, the DASH price slid below the key moving average of 50 and 200-day EMA indicating weakness in the long-term as well as short-term. The bulls made several attempts to break above the previous swing high and shift the trend but failed due to heavy short-selling from the upper levels. Currently, the price has consolidated near the swing low for the last 4 weeks after suffering rejection from the 50-EMA. 

Dash secures its transactions with a two-tier network. The first tier has nodes that mine blocks under a Proof-of-Work protocol which requires at least 51% of nodes to agree on a transaction before adding it to the blockchain. 

Dash Price Consolidating Near Previous Swing Low

The Dash crypto price is currently trading at $25.27 and consolidating near the previous swing low. The price trades near the upper boundary of the channel from where the sellers might attempt to drag the price down. The breakdown of the range may wipe another 10-15% of the market capitalization and drag the price down to $20.

However, if more buyers accumulate at the lower levels and the price manages to break above $5.02, then it may surge till the upper trendline resistance.   

Technical Indicators Shows Neutral To Bullish Trend

MACD lines have made a bullish crossover. Histogram bars are also being formed above the mean line that is of negligible height indicating an indecisive trend at the moment.  

The EMA analysis shows that the DASH price dropped below the 50 and 200-day EMA indicating the domination of sellers in the crypto price. 

At the time of publishing, the RSI value of the DASH crypto is 40.1 and that of the SMA line is 38.7. RSI is trying to recover after entering an oversold region indicating weakness in the crypto. 

Conclusion

Dash crypto price is falling steadily and may break below the three-year low of $25. The price is weak in both the long-term and short-term as it slid below the key moving averages and failed to break above the previous swing high. 

The price is consolidating near the lower boundary of the channel where it may face more selling pressure or rebound. 

Technical Levels

• Support levels: $24.2 and $20.4.
• Resistance levels: $32.8 and $38.8

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 or stock comes with a risk of financial loss. 

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Andrew Smith

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing

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