Dash price prediction suggests a rise in the long term. The upward momentum is expected to continue in the coming months. DASH price is down by 18.23% (approx) in March and lost almost all its previous gains.
DASH price displayed a golden crossover and sustained the price above the 200-day EMA indicating that a positional trend is in the upward direction. However, the prices seem to be stuck in a narrow range and a break from either side is expected soon.
Dash price is trading at $57.17 with an intraday decline of 1.21% and the 24 hour volume to market cap ratio is at 0.1416. The pair of DASH/BTC is trading at 0.002034 BTC with an intraday decline of 2.26% showing minor correlation between the two coins.
At the beginning of March, Dash price tried to hold the $70.00 level, unsuccessfully. Later, the sell off continued for some more time and prices declined, forming lower lows candles. Dash price fell 40% (approx.) from the peak and hit a low at $43.53. $50.00 is the demand zone and prices immediately bounced back with a strong momentum.
Will Dash Price Break the Higher Range?
Dash price formed a bullish engulfing candle near the demand zone and surged 13% (approx.) in a single day. However, the prices halted at $60.00. Later, Dash crypto price began to consolidate in a narrow range and showed signs of a short term base formation.
Technical analysis suggests that Dash crypto is in an uptrend and if the overall market sentiment remains bullish, the probability of upward range expansion will increase. On the other hand, if the price drops below $50.00, bearish pressure might pull it down to $40.00.
DASH Price: Technical Outlook
Dash price formed a bullish hammer candle on a weekly time frame which shows that responsive buyers are active at the lower levels. Moreover, if any minor sell-off was triggered from the supply zone, the possibility of bouncing remains high. The MACD generated a positive crossover indicating prices are likely to trade with bullish bias. The RSI at 47 sloping sideways denotes neutral territory.
Conclusion
Dash price prediction favors the bulls and suggests that prices might see upward range expansion. However, Dash price will gain momentum when the bulls break the $65.00 hurdle. Till then, Dash crypto is expected to consolidate in the wide range mentioned above.
Technical levels
Resistance levels : 65.00 and $75.00
Support levels : $50.00 and $40.00
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.
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
Source: https://www.thecoinrepublic.com/2023/04/04/dash-price-prediction-will-dash-price-reach-75-in-mid-2023/