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- 1 The DASH price has retested the neckline support zone of $40.
- 2 The Buyers are eyeing the $50 mark and looking for a significant bounce.
The DASH price is trading in the bullish region and is ready for a rebound to retain the upside of $45, followed by $50 shortly. The trend is intact, and the chart showcases a cup and handle pattern, which suggests that the coin is ready to reach the blue skyzone above $50 soon. Recently, the coin has retested the neckline support region of $35 near the 20-day EMA and witnessed a pullback.
At press time, the DASH coin (DASH) price was trading at $39.02 with an intraday gain of 1.22%, reflecting neutrality on the charts. It has a monthly return ratio of 23.70% and 31.90% on a yearly basis. The pair of DASH/BTC is at 0.000558 BTC, and the market cap is $457.13 Million. Analysts are bullish and suggest that the DASH price will register a breakout soon and may cross the upside of $50 shortly.
DASH Price To Volume Profile Revealed Bullish Outlook
Following the price surge, the investors have persisted in showing their interest and accumulating the coin. The DASH coin has surged over 30% and is decisively sustaining gains above this month’s significant moving averages. Amidst the market downturn, the DASH price did not showcase any harsh profit booking and remained in the bullish zone. The intraday trading volume jumped over 51.89% to $75.40 million, revealing the investor interest.
Price Volatility and Weighted Sentiment Remained Average
Amidst the price surge, the volatility remained lower and stood below 0.015, signifying steady price action. However, the weighted sentiment value signifies a negative outlook, noting around -0.144, which indicates an adverse outlook among the investors.
Social Dominance and Social Volume AI Analysis
Per the Santiment data, the social dominance value stayed lower and is below the midline, noting around 0.041%, indicating the average discussions and reports on the media platforms. Similarly, the social volume AI value noted an average of around 1.56, implying a neutral outlook.
Development Activity and Open Interest Overview
The derivative data signifies long buildup activity, and the open interest increased over 1.23% to $14.69 million, implying that investors are eagerly making fresh positions and are keen to lift the coin toward $50. Similarly, the development activity signifies a surge of over 23% to 13.33.
Per the Fib retracement levels, the coin has decisively sustained gains above the 38.2% zone and is close to the 50% zone. The RSI curve stayed above the midline, forming a positive crossover on the charts.
The total supply of the DASH coin is 11.73 million, and the volume-to-market cap ratio is 0.164. Per the market cap, the DASH coin ranked 183 in the global crypto market.
Summary
The DASH coin price signifies an uptrend and is ready to scratch the upside round mark of $50 in the following sessions. Buyers are holding the grip and are persisting in accumulation, which may lead to a bullish rally shortly.
Technical Levels
Support Levels: $37 and $35
Resistance Levels: $42 and $45
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.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
