Price Analysis

DAI Appears Intraday Bullish and Retains Strong Support

eToro

DAI—the US Dollar pegged investment crypto is a stable coin and will always have its movement around $1, and, in this regard, it is currently trading at $1.031 with a comparatively bullish intraday on the 24-hour chart.

With this, one of the most profit-making stable coins is already breaching the upper Bollinger Band. It was at the onset of the year when DAI/USD tested supports as low as $0.97, and right before the massive market crash in March, it went as high as $1.24 on the daily chart.

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Dai Price News
DAI/USD Chart By TradingView

Dai—launched on MakerDAO, is currently trading with a complete positive bias at $1.031 and already breaching the upper extremity after testing supports as low as $1.00 at the onset of the ongoing month. With a flat momentum, DAI is holding a choppy market trend against the greenback, but with positive market sentiment, DAI is holding complete support from MA50 & MA200 at $1.014 & $1.016.

With a complete positive sentiment, the MACD indicator of DAI draws a bullish divergence, and the RSI of the stable coin is now inclined towards the overbought region with gain in intraday momentum and is lying at 63.55.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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