DASH Price Reminisces Previous Month’s Bearish Candle

After having reminiscing the past month’s bearish candle, Dash’s price nosedived from trading slightly above $115 to currently trading at $106. It was just around the current trading time when DASH/USD, with a clear rejecting candlewick, dipped below $105 to as low as $103.5 after drawing a clear winning streak in the past seven days from the daily bottom of $94.

Alongside, DASH has been drawing a volatile movement since the mid-week of the previous month. In this regard, it was in the last week of November when a similar intraday bearish candlewick breakout led to an apparent loss of 30% from $124 to $84 in 2 days.

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DASH lost subsequently just to regain but could only manage to strengthen above $120, yesterday for a brief moment. With the current 2nd long candle pullback on the 4-hourly chart, the coin is close to testing MA50 support at $103, and if the previous month’s pattern takes over, the DASH price trend may experience yet another bearish candlewick below $100, testing 200-day MA support.

Dash News
DASH/USD Chart By TradingView

In this respect, the 4-Hourly MACD chart that was seen drawing a bullish crossover until the intraday crash is now reflecting the signal line crossing above the MACD line. Alongside, the RSI also shows a diversion from the overbought region and currently lies at 47.85.

Dash News Price

On the daily chart, DASH/USD, after an apparent crash in the beginning week of the last month of the year, was seen strengthening until the intraday bears gripped. It was in the first week when the coin was close to testing 50-day MA support but rebounded fair enough. On the daily chart, the apparent resistance stays at $124 and above, while the supports lie at $90 and $79. Despite the intraday correction reflected in the 4-hourly chart, the Dash price is trading with an inclination towards the upper band but with a straight bearish candle.

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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