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Vikram
Apr 15, 2022
by Vikram

DASH Technical Analysis: Reversal At $100 Challenges 50-day EMA

DASH
DASH coin price shows a recovery rally starting from the $100 mark challenging the dynamic resistance of the 50-day EMA. Should you be bullish?

Key technical points:

  • The MACD and signal lines are ready for a bullish crossover

  • The DASH coin price has ascended by 10% within the last four days

  • Finally, the 24-hour trading volume of Dash is $239.31 Million, marking a 68% rise

    • Past Performance of DASH

    DASH coin price sustains above the psychological barrier at $100 as the buyers step into takeover trend control. The bullish reversal attempts to undermine the previous bearish fall of 25% within a week after a consolidation fallout. Moreover, the recovery forms a triple white soldier pattern reflecting a surge in underlying bullishness. 

    TradingView Chart

    DASH Technical Analysis 

    DASH coin price shows a sharp V-shaped reversal challenging the 50-day EMA and approaching the $115 mark. Hence, the breakout of the resistance level will signal a buying signal for bullish traders. 

    A cluster of EMAs(20, 50, and 100) keeps a bearish alignment in the daily chart, with the 50-day EMA providing dynamic resistance. However, the upcoming bullish rally challenges the 50-day EMA, and a breakout will result in a jump to $130. 

    RSI Indicator: The RSI slope shows a recovery rally that starts in the nearly oversold zone and reaches the halfway mark. The rally also takes up a challenge with the 14-day average line at the halfway point. Hence, the indicator projects solid upcoming resistances.

    MACD Indicator: The MACD and signal lines show a bullish reversal near the zero line, indicating a high possibility of a positive crossover. Hence, the indicator projects a bullish continuation above $115.

    In a nutshell, the DASH technical analysis spotlights the possibility of an uptrend above the $115.

    Upcoming Trend 

    The DASH/USD pair shows a stronger bullish side against multiple resistance meetings at $115. Hence, the breakout of $115 will signal a buying entry spot with a potential uptrend reaching the $130 mark. 

    Support Levels: $100 and $85

    Resistance Levels: $115 and $130

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    Dash DASH Token
    DASH Technical Analysis: Reversal At $100 Challenges 50-day EMA
    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.

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