Dash Price Analysis: DASH Crypto Tries to Recover From Consolidation Phase To 2020 Lows!

  • Dash price is trying to return to the top price range of the consolidation phase at the 2020 lows.
  • The DASH crypto is still teetering below the 20, 50, 100 and 200 day moving average.
  • The DASH/BTC pair stands at 0.002169 BTC with an intraday gain of 0.51%.

On the daily price chart, Dash’s price tries to hold on to the start of the consolidation period. To continue at the current level, the token must maintain the momentum of the current progress. DASH’s bulls are pushing to their limits in an effort to hold DASH and move past the consolidation period on the daily chart. The Dash coin has now managed to break out of the horizontal area it has been in since June 25. The cost of the Dash coin has stabilized between $39.50 and $53.80. Meanwhile, DASH bulls must pile up to register the token’s breakout from the consolidation phase.

Currently Dash’s estimated price is $46.77 and in the last 24 hours its market cap has increased by 1.00%. During the intraday trading session, there was a 19.26% reduction in trading volume. This shows that traders are trying to take advantage of the opportunity to help DASH get through the consolidation phase. The ratio of volume to market capitalization is 0.1401.

DASH’s daily price chart shows the price increase to approach the upper trendline of the consolidation period. To see the token break, DASH bulls must gather. However, the bears could stop the DASH currency’s bullish momentum at any time as the volume indicates that the accumulation rate is limited. To avoid falling into bearish traps, DASH bulls need to accumulate quickly.

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What Do Technical Indicators Suggest About DASH Crypto Recovery?

On the daily chart, the price of the DASH cryptocurrency has risen. According to technical indicators, the DASH coin appears to be in an uptrend. The Relative Strength Index (RSI) shows the rising speed of the DASH coin. The RSI stands at 41 and is approaching neutrality. The bullish momentum of the DASH cryptocurrency can be seen on MACD. In preparation for a positive crossover, the MACD line is below the signal line. Investors in DASH should watch the chart for any changes in direction.

Conclusion

On the daily price chart, Dash’s price tries to hold on to the start of the consolidation period. To continue at the current level, the token must maintain the momentum of the current progress. DASH’s bulls are pushing to their limits in an effort to hold DASH and move past the consolidation period on the daily chart. The Dash coin has now managed to break out of the horizontal area it has been in since June 25. However, the bears could stop the DASH currency’s bullish momentum at any time as the volume indicates that the accumulation rate is limited. To avoid falling into bearish traps, DASH bulls need to accumulate quickly. According to technical indicators, the DASH coin appears to be in an uptrend.

Technical levels

Support Levels: $45.00 and $40.00

Resistance Levels: $50.00 and $55.00

Disclaimer

The views and opinions of the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto assets carries the risk of financial loss.

Ritika Sharma

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