Dash Price Prediction: Bull Reign Supreme and Prime For New Highs

DASH coin is all set to thrill in the next few sessions.
The coin is trading at $62.70 with an intraday gain of 4.50%

DASH coin looks bullish, with the delivery volume bars piling up in recent sessions. Higher highs and lows sequences are witnessed on the chart within the rising parallel channel and locking the last candle above 20-days EMA, signalling that the momentum is being driven by the bulls. Moreover, the chart gave bullish signs with numerous patterns forming ( Double Bottom and Falling Wedge).

Daily chart displays bullish cues

The daily chart indicates that DASH is in ideal shape. Bulls leapt back from the demand zone and the delivery volume in the past few days supports the buyers. The double bottom was formed inside the rising parallel channel. With the flawless setup, the bulls aggressively shatter the neckline in the congestion zone at $50 and are likely to sustain above this level. The bulls might look to retest the previous highs of $70 in the next few sessions.

DASH price is higher than the key moving averages, giving investors a cheerful outlook to make fresh long positions. DASH made higher highs and lows and traded at the lower trendline in recent sessions. The immediate support of $50 is the decisive bottom for the coin, whereas the immediate hindrance is near $70.

Short term chart suggests positive outlook

On the 4-hour chart, DASH was in the congestion range of $50 over the past few days. But, it soon broke the consolidation range(box) with a spike in the delivery volume gains. However, the coin retraced back, took support at the 20-days EMA in the last 24 hrs, and pulled back further.

The Fib levels indicate that the coin is ready to test the important 61.8% level, which is at $69. In the last week, DASH registered a high of $66 and retraced back to $55, completing the corrective phase with higher lows formation. The bulls bounced back from key Fib levels and are now targeting the upper range of $70.

What do the traditional indicators show?

RSI( Bullish): The Relative Strength Index curve is at 61 and looking to soar higher. The curve signalled bullish cues with buying action in the last three sessions.

MACD(Bullish): The indicator exposes green bars in the histogram, signalling that after giving the crossover with addition in volumes, the coin bounces back to retain the previous highs.

Technical Levels

Support Levels: $52 and $48

Resistance Levels: $70 and $74

Conclusion

Dash coin is in perfect trace with a bullish chart structure and is ready to test the higher ranges. The bulls are looking in an aggressive spirit with muscular momentum to defeat the bears.

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.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing