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- 1 DASH price persists in a narrow range and is trying to surpass the hurdle of $30.
- 2 Buyers are losing strength and trying to recover the gains from the past sessions.
The DASH price is trading in a congestion zone and consolidating below neutrality, indicating bearishness on the charts. Moreover, the price action shows sellers’ dominance and a correction on the charts was witnessed in the past sessions. However, the chart shows a falling wedge pattern, and the price trading near the mid-Bollinger band suggests neutrality.
Furthermore, the DASH coin is attempting to gain traction and is making efforts to register a breakout above the swing hurdle of $30. Moreover, the 50-day EMA acts as a barrier that, if surpassed, may lead to a rise in buying momentum and shift DASH toward the highs.
Moreover, the DASH price is trading close to the demand zone, where a deceiving bounce can be anticipated toward the upper trendline of $30, which redirects the journey toward $40 if surpassed. However, the sellers maintained the range and did not permit bulls to cross the region in past sessions.
Furthermore, the DASH price is trading on a bearish trajectory and is below the significant moving averages, showing the sellers’ grip on the charts. Moreover, if any follow-on selling arises, the DASH price may shift toward the immediate support of $20, followed by $15. The lower trajectory of DASH is near $15, and if it breaks, a fresh selloff can be seen, whereas if the price surpasses $30, bulls exceed momentum and capture the upper trajectory of $40.
DASH is trading at $26.18 at press time with an intraday drop of 0.41, showing neutrality on the charts. Moreover, the trading volume increased by 11.90% to $17.05 Million, and the pair of DASH/BTC is at 0.000968 BTC. However, the market cap of DASH is $301 Million. Moreover, analysts maintained a neutral rating and suggested volatility for the upcoming sessions.
DASH Price Action On Daily Charts
On the daily charts, the DASH price is forming a falling wedge pattern and is attempting to surpass the immediate 50-day EMA hurdle. Moreover, the price action shows lower lows and has persisted in dragging the gains down and favoring the bears over the past months. Furthermore, the DASH price has slipped below neutrality and is heading toward the 38.3% Fib zone, with sellers willing to extend the selloff toward the 23.6% zone near $20.
Will DASH Surpass the 200-Day EMA Hurdle?
On the 4-hour charts, the DASH price is trading close to the 200-day EMA and is looking to beat the spot for a pullback. However, the price was consolidating at the moment and did not indicate any decisive move. Furthermore, the technicals suggest a follow-up on selling that will lead to revisiting the spot price of $20.
The RSI curve stayed near neutrality, forming a negative crossover, indicating a neutral chart structure.
The MACD shows a convergence of the MA line with the signal line, suggesting that bears and bulls are showing equal interest and trying to grab strength from the past sessions.
Summary
The DASH price shows a falling wedge pattern and is looking to surpass the upper trendline of $30. However, the price action did not reflect the buyers’ momentum and still indicates a negative outlook, and DASH may slip toward $20 soon. Conversely, DASH will retest the 200-day EMA spot near $40 if any decisive move comes.
Technical Levels
Support Levels: $20 and $15
Resistance Levels: $30 and $40
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
