•DASH/USD is currently priced at $33.78 and has decreased by 8.31% over the past day
•The trading volumes have decreased by 24.48% over the past day
•The technical indicators suggest a bearish outlook for the near term
Short Term View: Dash price on a downward spiral
The Dash price today is $33.78 USD with a 24-hour trading volume of $60,808,405 USD. Dash coin is down 8.31% in the last 24 hours. The trading volumes have decreased over the past day amid a shortage of demand for the altcoin whereas the Volume to Market Cap Ratio stands at 0.1636 for the altcoin.
The dithering shown by the Dash Coin bulls has emboldened the bears as they have laid down their marker in the market. The resulting bearishness has pushed the Dash Price below the 20,50 SMA on the four hour chart. Moreover, the presence of the death cross furthers the cause of the bears. The bulls have a tough task on their hands defending the $30 support level if they are to harbor any hopes of reclaiming the wider market sentiment. On the other hand, the breach of the nearest resistance level placed at $35 could provide a launchpad for the bulls to stage a turnaround.
Long Term View for Dash price
At the Dash Coin bears behest, the outlook has taken a bearish turn of events as the RSI line has slithered below the 14-day average line, with the metric currently giving a reading of 37.21 and looks headed rapidly towards the oversold territory. On the other hand ,the red histograms are continually gaining traction on the daily chart, while the MACD and signal lines continue to transact deep into the negative territory even as the gap widens between the two.
Conclusion
The technical analysis for Dash Coin suggests that there could be a surge in selling activity in the coming days as the bulls were toppled by the bears in their market. The coming days will prove to be an acid test for the Dash Coin bulls if they are to flip the sentiment.
Support: $32-$30
Resistance: $35-$38
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.