- The DASH coin price is showing bullish after the bearish momentum in the previous week.
- The DASH coin price is currently trading in a small range on a 4-hour time frame.
- The pair of DASH/BTC is trading at the price level of 0.00226 with a decrease of -0.26% in the past 24 hours.
The DASH coin price, as per the price action, has bounced off the demand zone, after facing a strong sell-off in the previous week. The DASH coin price is currently trading in the demand zone. The DASH coin price is making higher high and higher low price structures on a daily time frame. As the DASH coin price fell, it broke the important demand zone in a lower time frame. The DASH coin price broke the demand zone with a strong bearish candlestick pattern which resulted in the rapid fall. As of now, the DASH coin is trading above the demand zone after forming a bullish candlestick pattern which resulted in the bounce back. The DASH coin price is currently trading below the 50 and 100 Moving averages. Recent bearishness in the price of DASH coin price resulted in the breakdown of the 50 and 100 MAs. Moving upwards the token price can be seen facing strong rejection from these MAs. At present, the DASH coin price is trading at the lower band of the Bollinger band indicator after floating to surpass the upper band. The coin price has also gone below the 14 SMA. Volumes have increased, therefore investors should remain cautious and wait for a clear signal of bullishness from the demand zone.
The DASH coin price is trading in a small range on a 4-hour time frame
Relative Strength Index: RSI curve is trading at the price of 47.39 as the coin bounces off the demand zone. At present, the RSI curve has fallen below the 20 SMA. The coin is forming higher low and higher high formation on a 4-hour time frame as the coin shows bullishness in the higher time frame. The DASH coin price can be seen moving if it sustains the recent gains and if it does then the RSI curve can be seen moving even higher up supporting the trend. Once the RSI curve crosses the halfway mark of 50, the DASH coin price can be seen moving up quickly.
Moving Average Convergence Divergence: MACD indicator has given a negative crossover as the coin gave a breakdown of the demand zone on a lower time frame. The blue line crossed the orange line on the downside. This has resulted in the coin price moving down strongly in a 4-hour time frame. The fall in the DASH coin price has been strong and therefore the MACD lines were seen widening. As of now, the coin price has bounced off the demand zone, and if the same continues then the MACD line can be seen giving a positive crossover.
Average Directional Movement Index: ADX curve has slipped below the 25 mark as the coin price broke the demand zone. As of now, the ADX curve has turned sideways, as the DASH coin price shows some bullishness. Therefore, the DASH coin price can be seen halting on the lower time frame and changing the price structure. Once the coin bounces off the demand zone, the ADX curve can also be seen dipping out of the 25 mark.
CONCLUSION: The DASH coin price is trading at the demand zone, as per the price action. Despite the recent bullishness shown by the DASH coin off the demand zone, the technical parameters are still negative. If the DASH coin price is successfully able to move in uptrend then the technical parameters can be seen turning positive or else it can fall further. Investors should wait for a clear trend and then act accordingly.
SUPPORT: $42 and $44
RESISTANCE: $50 and $52
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.