Press "Enter" to skip to content

DASH Price Analysis: The bears continue to hold the realm

Cryptocurrency

An open-source cryptocurrency- DASH ranks 22nd among the other major cryptocurrencies. The price of DASH at the press time was $69.75 with a market cap of $644 million and a 24-hour trading volume of $439 million. A major chunk of DASH was traded from IDAX via the DASH / BTC pair.

1 Hour Chart

Source: DASH / USD TradingView

The short term chart exhibited a downtrend extending from $77.961 to $72.220 and an uptrend from $67.671 to $69.433. The resistance stood at $72.744 and the support was held at $70.601.

The Bollinger Bands were undergoing a divergence thereby increasing the volatility of the tokens.

The Awesome Oscillator showed that the red bars were gaining momentum indicating that the coin was facing a bearish sentiment.

Chaikin Money Flow: The CMF line but was under the zero line at the press time indicating that the coin was in the bearish market.

1 Day Chart

Source: DASH / USD TradingView

The daily chart exhibited an uptrend extending from $86.956 to $135.349 and a downtrend extending from $186.699 to $93.139. The resistance stood at $120.024 and the support was at $102.818.

Parabolic SAR: The dotted line above the candlesticks was drawing a downward path pushing the coin to the markets of bears.

Relative Strength Index: The coin was swaying in towards the 40-line indicating a higher selling pressure in the market making the coin go bearish.

The MACD line and the signal line were undergoing a trend reversal putting the marketers under confusion.

Conclusion  

The MACD indicator suggested a trend reversal in the long term chart and the Bollinger Bands indicated that the volatility was increasing while all the other indicators suggested that the coin was under a bearish run.

 

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.