DAI Appears Intraday Bullish and Retains Strong Support

DAI—the US Dollar pegged investment crypto is a stable coin and will always have its movement around $1, and, in this regard, Dai price 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.

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.