- DASH coin recently moved above an upside parallel channel on the one-hour time frame.
- The DASH coin is trading above the red moving lines of the EMA ribbon indicator.
- The DASH coin pair price is up 3% at 0.002355 Satoshis, corresponding to the bitcoin pair.
The DASH token is gaining momentum as buyers accumulate the asset price above the $50 level. The asset price shows high-low and high-high formations in terms of the daily price scale. Given Crypto noted a sharp recovery last week, where buyers were so aggressive for an upside rally.
Over the past seven days, the daily price candles of the DASH coin noted green candles as well as only one red candle, which is being formed today. As of press time, buyers are facing a retracement phase today as the altcoin is trading at the $55.5 mark.
On the 4-hour time frame window, DASH investors saw a bullish breakout above an ascending parallel channel (above chart). Also, buyers registered a 60-day high of $58.6 today which is an explanation of the bullish trend. Due to the uptrend, the DASH coin is trading above the red moving lines of the EMA Ribbon indicator on the daily price scale. ,
Meanwhile, the DASH coin has a market cap of over $600 million, according to data from CMC over the past 24 hours. Now the $60-round level is burdening buyers with the most recent bullish move. Furthermore, the price of the DASH coin belonging to the bitcoin pair is up 3% at 0.002355 satoshis.
Buyers Need to Break $60-Resistance
The Stoch RSI Indicator is showing a bullish trend for the DASH Crypto, but its peak remains in the overbought zone. Similarly, the MACD indicator is giving positive signals.
Conclusion
From the price action side, DASH coin is in a bullish trend, but bulls still need to push the asset above the $60 resistance level. Above this level, the $65 area is set to increase the volatility of the DASH token.
Resistance level- $65 and $100
Support level- $50 and $45
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.