- Dash price is attempting to climb back up toward the 2020 lows, which are the highest price range of the consolidation phase.
- DASH crypto is trading below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of DASH/BTC is at 0.002234 BTC with an intraday gain of 2.83%.
The price of Dash is striving to hold at the start of the consolidation period on the daily price chart. The coin needs to keep up the current pace of growth in order to stay where it is. Bulls in DASH are exerting all of their strength in an effort to keep DASH from falling below the consolidation phase on the daily chart. The horizontal range-bound region that Dash coin had been in since June 25 has now been successfully broken. Dash coin’s price has been holding steady between $39.50 and $53.80. DASH bulls, meantime, need to build up in order to record the token’s breakout from the consolidation period.
Dash’s market cap increased by 3.39% over the previous 24 hours, and its estimated price is at $47.67. The volume of trades increased by 21.23% during intraday trading. This suggests that traders are attempting to seize the chance to help DASH get out of the consolidation phase. Volume to market cap ratio is 0.1848.
DASH’s daily price chart reveals that the price is climbing as it approaches the consolidation period’s top trendline. Bulls in DASH must assemble for the token to burst out. However, given that volume suggests that the rate of accumulation is constrained, bears could halt the DASH currency’s positive momentum at any time. Bulls in DASH need to accumulate swiftly to prevent getting caught in any bearish traps.
What do Technical Indicators Say about the Recovery of DASH Cryptocurrency?
The price of the cryptocurrency DASH has been increasing on the daily chart. Technical indicators suggest that the DASH coin is now moving upwards. The relative strength index (RSI) shows the increasing momentum of the DASH coin. With a reading of 44, the RSI is almost neutral. On MACD, the upward momentum of the DASH cryptocurrency is apparent. The MACD line is below the signal line in anticipation of a positive crossover. DASH investors need to keep an eye on the chart for any changes in trend.
Conclusion
The price of Dash is striving to hold at the start of the consolidation period on the daily price chart. The coin needs to keep up the current pace of growth in order to stay where it is. Bulls in DASH are exerting all of their strength in an effort to keep DASH from falling below the consolidation phase on the daily chart. The horizontal range-bound region that Dash coin had been in since June 25 has now been successfully broken. Dash coin’s price has been holding steady between $39.50 and $53.80. However, given that volume suggests that the rate of accumulation is constrained, bears could halt the DASH currency’s positive momentum at any time. The relative strength index (RSI) shows the increasing momentum of the DASH coin.
Technical Levels
Support Levels: $45.00 and $40.00
Resistance Levels: $50.00 and $55.00
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.
Source: https://www.thecoinrepublic.com/2022/08/23/dash-price-analysis-will-dash-coin-breakout-of-the-consolidation-phase-this-time/