DASH Falling and Testing Below $191.22 – Technical Analysis
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DASH Falling and Testing Below $191.22 – Technical Analysis

March 25, 2021      Ankita Awasthi

Dash is a blockchain ecosystem that facilitates instant payments at lower transaction fees. It allows users to make payments using digital currency anytime anywhere. Businesses can acquire new customers faster. There are no chargebacks as well. DASH is the prime governance token of this network.

Past Performance

On March 18, 2021, DASH started trading at $229.15. As of March 24, 2021, DASH closed at $190.75. Thus, in the past week, the DASH price has declined by approximately 17%. In the past 24 hours, DASH has traded between $184.06-$214.40.

DASH Price Analysis

https://www.tradingview.com/x/JkUwjEQx

Day-Ahead and Tomorrow

Currently, DASH is trading at $188.32. The price has dropped from the opening price of $190.75. Thus, the market looks bearish.

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The A/D indicator is gradually rising for the past couple of hours. Thus, whale accumulations are slowly surpassing whale distributions. There is positive divergence here. The bearish momentum is slowly weakening and we can expect a trend reversal by the end of the day.

The MACD and signal lines are in the negative territory. However, they have inched closer to the zero line and may become positive soon. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, a trend reversal is on the horizon.

Currently, the RSI is at 54%. It has rallied from the ‘oversold’ region. Thus, buying pressures are slowly overtaking the market. Hence, we can expect the price to start rising in some time.

DASH Price Analysis

Presently, the price is below the Fibonacci pivot point of $196.40. It is nearing the first support level of $184.81. As the oscillators have pointed towards a trend reversal, by the end of the day, we can expect the price to surpass the Fibonacci pivot point.

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The price has tested and fallen below the 23.6% FIB retracement level of $191.22. A trend reversal is confirmed if the price tests and breaks out of the 38.2% FIB retracement level of $195.65. In that case, a bullish trend has set in and will continue tomorrow. Else, the downtrend will continue tomorrow as well.

 

#Dash #Dash price analysis
Ankita Awasthi
Ankita Awasthi

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.