Dash (DASH) Price Analysis: Dash Coin Price Picks Momentum After Positive Crossover Above $100 – Cryptocurrency News

Dash (DASH) Price Analysis: Dash Coin Price Picks Momentum After Positive Crossover Above $100

  • Dash coin price levels have picked up ideal positive momentum on Saturday’s market session after touching a critical support area of $90 during the past downtrend.
  • The bulls can be heading towards the critical resistance zone around $120.00 in the upcoming market sessions if the current positive momentum is sustained by the crypto asset
  • However, the DASH/BTC pair is still performing negative with a loss of -2.53% bringing the current level down to 0.00417467 BTC

Source: Coinmarketcap

On the weekly chart, Dash coin price levels faced significant retracement after testing the critical resistance area around $120.00. The crypto asset suffered a negative breakout below the crucial mark of $100.00 and touched the critical support level of $90.00. The support level did provide a positive bounceback to the levels and currently looking to capitalize. The CMP is placed at $102.87 with a marginal gain of 0.18%, bringing the market capitalization to $1,022,285,794 with the 24-hour volume traded of $894,309,969. However, the DASH/BTC pair’s negative performance might put doubts on the sustainability above the crucial mark of $100 for its price levels.

Dash Coin Price Forms Rising Channel Pattern Reflecting RecoverySource: Tradingview

Dash‘s technical chart highlights the significant bullish rally made by the price levels in this month and testing the bullish region around $120. The testing was immediately followed by heavy corrections which forced the price levels to drop below 1.00fib level from which the buying volume was revived due to the presentation of rational buying price in the market. The coin’s current positive trend has formed a rising channel pattern, and the levels remain above the baseline of the pattern. The crypto asset is looking to retest the 0.5fib level with a vital resistance zone above the 0.382fib level. On the contrary, a negative breakout from the pattern can again lend up the coin below the 1.00fib level.

The relative strength index (RSI) keeps showcasing bullish nature by having constant breakouts to the oversold region. The current levels are looking for a third breakout while standing at 50.83.

The moving average convergence & divergence (MACD) grapple against bears by having constant bullish crossover on the 1-hour candlestick.

The commodity channel index (CCI) is again looking potential for a positive breakout to the overbought region with the current level of 90.21

Resistance level: $115.00 & $120.00

Support level: $100.00 & $90.00

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Vasu Singhal

Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

Source: https://themarketperiodical.com/2020/12/26/dash-dash-price-analysis-dash-coin-price-picks-momentum-after-positive-crossover-above-100/

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