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Vikram
Mar 22, 2022
by Vikram

DASH Technical Analysis: Uptrend Eyes the Next Psychological Mark 

DASH
DASH coin price continues the breakout rally after overpowering the sellers at $100 and hints at the 200-day EMA breakout. Will the buyers sustain the uptrend?

Key technical points:

  • DASH coin price upholds the $125 mark.

  • In addition, the RSI slope approaches the overbought zone.

  • Finally, the 24-hour trading volume of Dash is $605 Million, marking a 7% fall. 

    • Past Performance of DASH

    As mentioned in our previous article, the DASH coin price continues the trendline breakout rally after the consolidation and the 50-day EMA breakout. The rally surpasses the psychological barrier of $100 and the 100-day EMA. The recent surge of 40% in last week comes with a jump in buying pressure evident by the 12% high bullish engulfing candle and the follow-through candles. 

    TradingView Chart

    DASH Technical Analysis 

    DASH coin price shows an uptrend continuation, with the follow-through candle rising 5.80% at press time. Moreover, the last two daily candles show lower price rejection evident by the tail formations.

    The crucial EMAs (50, 100, and 200) maintain a bearish alignment, but the rally breaks above the 50 and 100-day EMA and heads higher to the 200-day EMA. Furthermore, the breakout of the 200-day EMA will result in a trend reversal.

    RSI Indicator: The RSI slope rises from the 14-day SMA below the halfway mark to the overbought boundary at 70%. The surge reflects a jump in buying pressure and increases the chances of a rally reaching the $150 mark.

    MACD Indicator: The MACD and signal lines continue the uptrend with a constant bullish spread as the MACD histograms gain positive momentum.

    In a nutshell, the DASH technical analysis paints a bullish forecast with the possibility of the 200-day EMA breakout.

    Upcoming Trend 

    DASH coin price shows the buyers are strengthening their grip over trend control as the rally breaks above the 100-day EMA and races to the 200-day EMA. Moreover, the rising buying pressure helps attract new buyers, which fuels the uptrend. 

    Support Levels: $125 and $115

    Resistance Levels: $150 and $165

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    DASH Technical Analysis: Uptrend Eyes the Next Psychological Mark 
    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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