Dash Plays Close to Its May 2022 Lows! Technical in the Red Zone!

The expectation from Dash offers a close resemblance to Bitcoin in some technological advancements. Dash was created to improve the features and abilities of Bitcoin. Its faster transactions and privacy feature might be an advantage, but the broader acceptance of Bitcoin miners offer a much higher level of decentralization to bitcoin than Dash. 

As crypto winter comes to a halt, Dash will progress towards its previous resistances and move into a positive zone for a longer duration. Dash holds a market capitalization of $450 million with 74th rank as per the coinmarketcap list. Dash still has a mere 58% liquidation of its entire supply volume, offering a huge market in the coming years. 

Dash Price Analysis 

Dash price momentum seems to be consolidative with negative breakout inclinations. The price momentum in 2022 has been inclined towards hitting the lower band, with immediate support of $38.5 being the last hope for buyers to expect a retracement.

DASH Price Prediction

Coming to the price momentum of Dash, it is clearly visible that this cryptocurrency is facing a lack of buyers as other leading cryptocurrencies. When global economies offer higher rates of return, investing in crypto seems like a bad idea. Still, none of the markets always remains bullish or bearish, and cryptocurrencies are not just a momentum gain but basically a hedge against inflation. 

Getting work done is more essential than making profits on a value. Dash can undergo further below the $38 mark and go below its all-time low of $31 it touched in March 2020, yet the lower value could surely call the hibernating buyers into action. 

According to our Dash coin price prediction and the current price trend, buying under $40 would allow the holder the opportunity to enjoy hefty returns quickly. $141 has developed a long-term resistance zone that would be challenging for the Dash token to surpass in a single swing. Getting fresh buying sentiment from its dips could provide the necessary push to reach such a level. 

RSI and MACD on short-term movements were fairly bullish before the negative market movement of the last two days. On weekly charts, the current movement is attempting to engulf the positive price action of last week that clocked 8%. Hence the outlook, in the long run, seems fairly consolidative to positive. The immediate resistance for upside movement would be met at $50.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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