Analyzing Dash Crypto in 2023: A Game-Changer Ahead?

DASH is trading in a downward channel. However, at press time, DASH crypto was trading at $32.459 with an intraday gain of 0,43%, breaking below the 50-day SMA, indicating bearishness. Moreover, the intraday trading volume also showed a decline. The average 10 days volume of 1.081K. The market cap of DASH is $370.475 Million.

DASH crypto is trading inside the falling channel and forms lower highs sequences. Recently, the crypto broke the crucial range of $34.00 above the 200-day SMA, again, suggesting bearishness.

The performance has been poor so far into the year. Year-to-date, it gave negative returns of -22.60%; it fell -47.76% over 6 months; in the last 1 month, it gave a negative return of -3.31%; in the last 7 days, price rose +3.60%. Indicating a long Bearish trend continuing till now.

Technical Analysis of DASH Crypto Price in 1-D Timeframe

At present, DASH crypto (USD: DASH) is trading below the 50 and 200-day SMAs, supporting a downtrend. However, if there’s a spike in selling volume, the bearishness may get adverse. Hence, the DASH price is expected to move downwards, giving bearish views over the daily time frame chart.

The current value of RSI is 49.55 points. The 14 SMA is above the median line at 45.66 points which indicates that the DASH crypto is bearish.

The MACD line at -0.246 and the signal line at -0.453 are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the DASH crypto price.

Summary

USDDASH technical indicators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the DASH crypto price. DASH Price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment. Nevertheless, investors and traders should wait for proper setup for the next move and avoid FOMO.

Technical Levels

Support Levels: Nearest support levels are $42.478 and $37.064.
Resistance levels: Nearest resistance levels are $28.537 and $25.424.

Disclaimer

The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.