DASH Technical Analysis: After Crossing $50, DASH Eyes $65

Key Technical Points:

Past Performance of DASH

As predicted in our previous analysis, the DASH prices jumped to the $50 mark, where the buyers failed to knock the prices back below the 50-day SMA. However, the trend reversal from the supporting SMA with a morning star pattern puts the buyers back into the driving seat resulting in the $50 breakout. Moreover, the bullish rally breaches the 100-day SMA with a price jump of 18% over the last week.

Source - Tradingview

DASH Technical Analysis

Currently, the DASH price action displays a long-wick formation in the daily candle teasing a potential retest of the $50 breakout. Hence, traders can shortly find another opportunity to buy at discounted rates with a possible 20% jump.

As the market price trades above the 100-day average price, the increased bullish influence results in a lateral shift in the 50-day SMA. Moreover, the rising trend in the intraday trading volume supports the bull run, indicating a potential rise to $64.

The daily-RSI slope spikes into the overbought zone, with the 14-day SMA maintaining a positive trend above the halfway line. Furthermore, the MACD indicator shows an increase in the bullish spread between the fast and slow lines as they avoid another bearish crossover. Hence, the technical indicators keep a bullish attitude with the increase in buying pressure.

In a nutshell, the DASH technical analysis maintains an optimistic viewpoint for the upcoming trend.

Upcoming Trend

If the DASH price maintains the bull run, the market value may shortly shoot up to the overhead resistance at $65. Moreover, an increase in buying pressure resulting in the $64 breakout will drive the prices to the next milestone at $74.

However, a bearish reversal will retest the support level of $50, but a pos-retest reversal can restart the prevailing trend.

Resistance Levels: $64 and $74

Support Levels: $50 and $41