- The price of Dash has been stuck in the midst of a range-bound market for a long time.
- The Choppiness Index remains in the higher zone, which suggests an extreme sideways trend.
- The market cap of the DASH coin is green 5.9% over the last 24 hours to $520 million.
After the recent drop, the king of the market – bitcoin reached the level of $20K. As a result, altcoins started moving higher and recovered their lost costs. Similarly, the DASH coin also saw an uptrend in the lower time frames of the past three days such as daily and down.
Despite the slight correction, the price of the DASH coin has been stuck in the range-bound market for a long time. For the past 20 days, the altcoin price has remained within the $43 to $50 support level for resistance. Talking about the higher time frame, buyers accumulated the asset near the yearly low of $40, and the bears dominated near the $60 mark.
Price action draws higher-lows and higher-highs patterns in a lower-time frame, as a result, the coin seems to be under the green zone this week. At the time of writing, the DASH coin is trading at $47.8 Mark at the time of writing. Similarly, the pair price of the DASH coin along with the Bitcoin pair is slightly down by 1% at 0.002314 Satoshis.
The market cap of the DASH coin is green 5.9% in the last 24 hours at $520 Million. Despite the increase in Capitalization, the Choppiness index is remaining in the higher territory, suggesting an extreme sideways trend.
Buyers Maintain DASH Price Above 20-DMA
Amid the recent rally, buyers are finally maintaining an uptrend above the 20-day EMA in the context of the daily price scale. Notably, the daily RSI indicator is crossing the range-bound area and looking at the 51-level.
Conclusion
The daily RSI indicator is showing early bullish signs as it moved above the halfway mark. Furthermore, the DASH coin price action suggests a higher high and higher low formation on the daily price scale.
Resistance level- $50 and $60
Support levels- $43 and $40
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/2022/09/09/dash-price-analysis-dash-recovers-10-this-week-observes-to-be-bullish-till-next-resistance/