- The declining price has entered a descending triangle phase over the daily price chart. Where the preparation of reversal has begun.
- The crypto asset is trading below the 20, 50, 100 and 200 days moving average.
- The DASH/BTC pair is at 0.002145 BTC with a loss of 1.25% in it.
The DASH price after a recovery has now entered a descending triangle and is currently facing a downtrend movement over the daily price chart. This shows the bearish dominance over the market, the price is falling continuously and analysts believe that it may register a breakdown soon this is due to the dominance of the leading cryptocurrency BTC which is behaving bearish and is followed by the other altcoins. The coin needs to attract buyers in order to oppose this movement and make a breakout. If a breakdown takes place the price will plunge to the $30 support level. Whereas the trading volume is still at a gain of 22% in it which supports the price and is only relief here. The DASH price is moving considerably low below the exponential moving average.
The price for one DASH coin is hovering at $41.83 with a gain of 0.53% in its market capitalization in the last 24 hrs. The coin has a trading volume of 104 million which is currently at a gain of 22.95% in the 24 hrs trading session and a market cap of 451 million. The volume market cap ratio is 0.2317.
Short-term Analysis
We can observe a strong downtrend movement with opposition of bulls over the short term (4 hrs) graph. This shows the bulls efforts to support the falling price, but the efforts are not enough to reverse the trend. So the coin must attract buyers to make a successful trend reversal.
Technical indicators like MACD are going to make a positive cross as the red histograms are shrinking showing the increase in buyings. The relative strength index in support is back from the oversold tertiary and is now moving neutrally. The technical indicators are in favor of bullish movement this time.
Conclusion
The DASH price after a recovery has now entered a descending triangle and is currently facing a downtrend movement over the daily and hourly price chart. The coin needs to attract buyers in order to oppose this movement and make a breakout. Whereas the trading volume is still at a gain of 22% which supports the price and is only relief here. On the other hand, the preparation for reversal has begun as indicated by the technical indicators over the hourly chart.
Technical levels
Resistance levels: $46.5 and $52.75
Support levels: $38.25 and $34.5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
