DASH Price Analysis: Did DASH Price Make a Golden Crossover?

The DASH price is currently trading within a consolidation near its previous resistance level below the trendline on the supply zone. The volumes are also reflecting a slight decline with the consolidation. The sentiments in the market are currently in the green zone. If the price follows the movements of the major cryptocurrencies, as per the historical price action, it can make a significant breakout of more than 20%.

The investors are in a state of indecision within the consolidation, indicating that the price can make a breakout. However, the influence of the overall price action may reflect in the price. As of now, the price is trading above both major MA and EMA key indicators. This development increases the chances of the breakout being bullish. The oscillators have recently crossed above the median.

DASH price trading under the supply zone

The overall market sentiments, according to the Alternative(dot)me platform, are currently in the greed zone at 68 points in the Greed and Fear Index. The sentiment index is observing an increase of 4 points in a short period from 65 points. This information suggests there is an increase in the number of buyers and the price might continue its bullish movement.

Meanwhile, according to Coinglass, despite bullish sentiments in the majority of the market, the sellers are influencing the DASH price across most of the cryptocurrency exchange platforms.

Technical Analysis

The RSI line around the median line is moving within a narrow range in accordance with the price action. As of now, the value of the RSI line is 51.38 points; taking support from 14 SMA which is at 47.37. The RSI line is moving with the price action and although it is above the median line and the 14 SMA, it increases the chances of a bullish move.

The stochastic RSI recently crossed above the median line. The current value of stochastic RSI is 69.87. The %K line is taking support from the %D line on a positive reversal.

Conclusion

The DASH price is currently trading under consolidation while the sellers are influencing it across most of the major cryptocurrency trading platforms. The price is seeing a reversal from its consolidation channel. If it makes a bullish breakout above the consolidation level, it can make a 12% uptrend.

Technical levels –

Support -$49.03 and

Resistance – $64.80 and $72.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.