- DASH prices rose as LTC surged.
- Trading volume rises by 43.48%.
- Bullish reversal may take place.
Litecoin’s fork, DASH, takes inspiration and rises as the other coin prepares for the breakout. Dash coin prices are influenced and show an uptick, rising to $45. The trading volume also sees a rise of more than 43%. In the recent quarter, all privacy coins were under attack due to serious regulatory scrutiny in recent years due to their increasing use to perpetrate acts that are not ethical. But Dash has sustained well and has shown increasing movement from time to time.
The char-t-ale
The prices have marked an upsurge, steadily escalating and reaching $45. A crossover is observed by 100 and 200 EMA, indicating that a bullish reversal may occur soon. The regressing volume and rising OBV suggest that the pressure is favorable and may convert into heavy sales volume. Dash prices have successfully reclaimed the 20 and 50 EMA. Keeping in mind the ongoing momentum, the price may reach nearly $50 soon.
The analysis suggests that the rise may be just for a short term. The CMF holds a spot akin to the baseline and values positive for the persisting pattern. The MACD, through convergence, shows that the sellers are withdrawing and buyers are entering, as the red bars are descending and lines are converging. The RSI indicator moves above the half line and shows ascending buyer interest, tuning into buying action.
The peephole
The current situation analysis establishes an up trail. The CMF indicator maintains a position in the upper region, showing a bullish influence. The MACD records consistent buyer activity and increasing participation, reflecting optimistic sentiments. The RSI sloped up to the ceiling range and pierced the overbought zone.
Conclusion
The DASH, which is a fork of LTC, is highly reactive to litecoins’ performance. In past instances, it has copied its price pattern and obeyed the swing. The drift in DASH price may be shorter duration, but fortunate for short-term investments and could reap decent yields.
Technical levels
Support levels: $40.12 and $36.58
Resistance levels: $50.08 and $52.51
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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/12/26/dash-moves-up-the-ladder-prices-influenced-by-market-trend/