menuIcon
$ 86,713.5
BTC
$ 86,713.5
-0.83 %
$ 2,001.61
ETH
$ 2,001.61
-3.15 %
$ 0.7236
ADA
$ 0.7236
-2.84 %
$ 616.38
BNB
$ 616.38
-2.16 %
$ 136.50
SOL
$ 136.50
-5.01 %
Vikram
Feb 17, 2022
by Vikram

DASH Technical Analysis: Eager To Escape Bulls Tease A 30% Jump 

DASH

Table of contents

  1. Key technical points:
With the bullish revolt, will the DASH coin price finally crush the long-coming resistance trendline to give a price jump of 30% to reach the 200-day EMA?

The DASH coin price shows a growth of 16% after finding demand near the $100 mark. The uptrend faces intense selling pressure near the 50-day EMA and the long-coming resistance trendline. Will the raging bulls crush the resistance confluence area?

Key technical points:

  • The coin price sustains above the $100 mark.

  • The trend faces resistance from the 50-day EMA. 

  • The 24-hour trading volume in the DASH token is $248 Million, indicating a 75% rise. 

    • Past Performance of DASH

    The ongoing bullish reversal comes as a retracement within the long-coming downtrend. The downtrend continues under the influence of a strong trendline barrier that has kept the bullish growth in check. 

    Currently, the DASH coin price trades at $116.87 with a price jump of 9.55% in the last 24 hours as the uptrend continues after retesting the $100 mark. Hence, the increased trend momentum highlights the possibility of a trendline breakout.

    TradingView Chart

    DASH Technical Analysis 

    The DASH coin price faces solid resistance near the confluence of the resistance trendline and the 50-day EMA. Therefore, the possibility of a reversal to the $100 is considerable. Hence, traders need to wait for the price action confirmation before siding with a party. 

    The RSI Indicator shows a bullish growth in the buying pressure as the slope rises from the oversold zone and surpasses the 50% mark. The 14-day average crosses the halfway mark as well.  

    The Stochastic RSI indicator projects an early bullish crossover resulting in a positive divergence. Moreover, the rising K and D lines project the possibility of a bullish continuation above the trendline. 

    The uptrend struggles to surpass the crucial 50-day EMA as it has provided dynamic resistance for a long time. Moreover, the bearish alignment of the 50 and 200-day EMAs maintains a negative influence on the DASH coin price.

    In a nutshell, the technical indicator projects an increase in buying pressure that may break above the 50-day EMA.

    Upcoming Trend

    The DASH coin price action will generate an excellent buying opportunity with the breakout of the 50-day EMA and the resistance trendline. However, the possibility of a reversal can not be neglected. Therefore, the price action confirmation will provide an extra edge to avoid the bull trap.  

    Support Levels:$100 and $88

    Resistance Levels: $132 and $153

    Follow us on: News
    Dash DASH Token
    DASH Technical Analysis: Eager To Escape Bulls Tease A 30% Jump 
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

    Top Picks