DASH Coin Price Analysis: Will the DASH Rebound from Its Collapse?

• The DASH token has been in a significant downfall for a long time.
• It is trading at $25.65 with a repulse of 1.92% in the last 24 hours.
• The token is down by 98.44% from the all-time high.

The Dash token had remarkable losses of 55.21% in the last 6 months and 23.3% in the last 3 months. It marked its yearly high of $76.90 in the middle of February and since then the token has been in a significant downfall phase.

The DASH coin recorded its all-time high on 20 Dec 2017, when the token was priced at $1642.22. It is currently trading with a 5% decline in the daily trading volume.

The market capitalization of the token is $295.04 Million. It has a circulating supply of 11.49 Million DASH which is 60.80% of its total supply. The 24-hour trading volume of the token is $28.31 Million.

Sentiment Analysis

The total market volume of the token has decreased by 9.77% in a week. Total social engagements also fell by 58.04% and the total bullish sentiment sentiments also dropped by 43.69%. Overall sentiments indicate a bearish movement in the price as all the aspects of sentiments are showing negative results.

Technical Analysis Of DASH (Daily-1D) 

The chart shows that the token is in a bearish trend and is significantly making lower lows. The price broke the downtrend a few weeks ago. It started moving upwards but got rejected from the resistance level of $28.71 and came down. Presently, it is trying to take support from the support level of $25.2. 

The price can come down from the support level to fill the liquidity made in mid-August. Also, the liquidity zone from $22 to $25 can act as a support zone from where the price can take support and then move upwards to break the resistance of $28.7.

However, if the price breaks below the level of $22 to $25, it might fall further and make another yearly low.

DASH is also trading below the 50-day EMA, which is a sign of a bearish movement.

What Indicators Say About DASH Coin 

Relative Strength Index (RSI)

The RSI line is presently moving at 37.90 points and the SMA 14 is moving at 50.48 points. The RSI is moving below the neutral level of 50. It will soon enter the oversold region from where the buying entries will be made by the bullish investors and then the price can go up.

Moving Average Convergence/Divergence (MACD) 

The fast blue line moving average is moving below the red slow line moving average. The histogram shows a significant decrease in the volume which is a sign of the bearish momentum.

DASH LIVE CHART

Conclusion

The overall analysis of the DASH token indicates a bearish movement. The price can take support from the $22 to $25 liquidity zone and then move upwards. Also, If the price falls below $22the price can fall more and make a new yearly low.

Technical Levels

Support: $22 to $25.2

Resistance: $28.7, $32 and $36

Disclaimer: 

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.