- DASH coin price is bullish and the same is depicted on the daily time frame chart.
- The DASH coin price is forming a flag and pole pattern in a daily time frame.
- The DASH coin price is currently falling as it showed a strong uptrend.
The price movement for the DASH currency is quite optimistic. With a powerful bullish candlestick pattern, the price of the DASH cryptocurrency just broke through the critical supply zone. On a daily time scale, the price of DASH cryptocurrency defied the inverted hand and shoulder pattern.
Currently, on a daily time frame, the price of the DASH currency is generating higher high and higher low patterns. Strong positive momentum resulted from a supply zone breakthrough as the DASH currency price repeatedly encountered rejection there. As of right moment, the price of the DASH currency is decreasing after soaring quickly following the breakthrough. After retesting the breakout zone, the price of the DASH currency is observed increasing once more. The price of a DASH currency is currently above both the 50 and 10p Moving Averages.
The coin price is observed gaining support at these Moving Averages as it moves upward. The price of the DASH cryptocurrency has also surpassed the 14 Simple Moving Average. After rebounding from the lower band, the price of the DASH currency is now positioned at the upper band of the Bollinger band indicator. The Bollinger band’s current range is large, so some consolidation before the next upward rise is inevitable.
The DASH coin price is forming an ascending triangle in a daily time frame
Average Directional Movement Index: ADX curve is dipping for the past couple of weeks after rising. As the coin price broke the supply zone, the ADX curve was also seen moving up rapidly. As of now, the ADX curve is dipping as the coin price also falls after a strong bullish momentum. The fall in the DASH coin price has resulted in the formation of a flag and pole pattern. Once the coin price breaks the flag and pole pattern the ADX curve can also be seen moving upwards.
Moving Average Convergence Divergence: MACD indicator has given a negative crossover as the coin falls after the breakout of the supply zone on a daily time frame. The blue line crossed the orange line on the downside. This has resulted in the coin price falling strongly. Once the coin price starts moving up again after retesting, the MACD indicator can give a positive crossover and the gap between the blue and orange lines can be seen widening supporting the trend. After the breakout of the small supply zone, the coin is now trading in a small range, resulting in the consolidation.
Supertrend: The DASH coin price stormed past above the supply zone with a strong bullish candlestick pattern. The coin broke out of the super trend sell line which triggered the buy signal. As of now the DASH coin is trading above the super trend buy signal line. Currently, the coin price is seen retracing back to the breakout zone for a retest. Going forward the super trend buys line could act as a strong support zone.
Conclusion: The DASH coin price is on a bullish trajectory despite the recent bearishness. The technical parameters suggest the same. It remains to see if the DASH coin price breaks the flag and pole pattern on the upside it fails to do so.
Support: $46.80 and $44.90
Resistance: $52.90 and $59.60
