Dash Price Analysis: DASH Facing Correction Near Consolidation Phase Upper Range, What’s Next?

  • Dash price is trading with downtrend momentum on the daily chart.
  • The DASH crypto is still above the 20 and 50 EMAs and below the 100 and 200 day moving average.
  • The DASH/BTC pair is at 0.002255 BTC with an intraday gain of 1.58%.

Since June 25, Dash price has been consolidating within the horizontal range area. The token has been trying to find a way out of the consolidation phase, but the bulls have repeatedly failed to hold gains at the threshold of the consolidation phase. Bulls in DASH seem committed to recording the token’s advance from the horizontal range this time. However, the price of the token has stabilized between $39.50 and $54.00. Dash price is currently in a strong uptrend and is moving towards the upper range of the consolidation phase. To allow the token to rise above the caged area, the DASH bulls must hold their position on the trend line.

Dash’s estimated price is $52,100 right now, and it was up 0.56 percent in terms of market cap the day before. The intraday trading session saw a 7.94% increase in trading volume. This suggests that traders are looking to take advantage of the opportunity to allow DASH to break through the consolidation period. The volume to market capitalization ratio is 0.1755.

On the daily price chart, the DASH price is attempting to move higher towards the upper trend line of the consolidation phase. Bulls on DASH must rally to watch the token breakout. The bears, however, could stop this bullish momentum of the DASH coin at any time, as the volume suggests that the rate of accumulation is low. For the DASH bulls to avoid falling into bearish traps, they need to build up at a considerable rate.

What do the technical indicators suggest about DASH?

On the daily price chart, the DASH coin price is preparing to break out of its consolidation period. In order for the token to get out of the horizontal range, it must maintain its upward speed. Technical indicators suggest the sideways momentum of the DASH coin within the consolidation phase.

The relative strength index shows the sideways momentum of the DASH coin. RSI is at 58 and it is flat above neutral. MACD exhibits the sideways momentum of a DASH coin. The MACD line is ahead of the signal line but with a small difference.

conclusion

Since June 25, Dash price has been consolidating within the horizontal range area. The token has been trying to find a way out of the consolidation phase, but the bulls have repeatedly failed to hold gains at the threshold of the consolidation phase. Bulls in DASH seem committed to recording the token’s advance from the horizontal range this time. However, the price of the token has stabilized between $39.50 and $54.00. The bears, however, could stop this bullish momentum of the DASH coin at any time, as the volume suggests that the rate of accumulation is low. Technical indicators suggest the sideways momentum of the DASH coin within the consolidation phase.

Technical Levels

Support levels: $48.50 and $47.50

Resistance Levels: $53.00 and $54.00

Disclaimer

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

Steve Anderson
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