Dash Price Steps Down Over a Week; Consolidating Above Key Support Since Yesterday

  • Dash coin is struggling for recovery after yesterday’s correction below $72.
  • Dash price has broken below many key supports over the last one week; seems to have support near $70 at present.
  • The lower high pattern indicates bearish sentiment, while technical indicators manifest mixed signals.

The crypto market has been under a tight grip of bears till at least a week ago. To the extent that, Bitcoin kept trading much below $9000 for the better part of October. However, in the last 10 days, the BTC price has shown a visible recovery as it reclaimed the price range above $9000. Resonating a similar vibe, Dash coin has also shown a strong rebound, though, it came back to square one after a hefty price drop against U.S.Dollar.

The weekly price chart of Dash shows major up-spikes above $74 for an initial couple of days. However, it traced a lower-high pattern before facing major rejection above $74. The rejection caused the coin to drop even below $72 and $71. At $70.21, the coin found a strong support level to trace a rebound. The rebound has managed to push the coin above $71 after a few price-moves above $72. Yesterday’s rise near $72.78 has corrected down on the same day, and today Dash price is consolidating near $71.30 at 05:43:09 UTC.

Dash to USD Price Chart

Dash Price Chart
Dash Chart By TradingView

Dash has faced a strong resistance near the price range of $74, according to the chart. In the last few days, it has breached major support levels near $73 and $71. It is to be seen how long the coin takes to reclaim the price range above $74.

The technical picture of the coin appears a bit positive as MACD has just traced a bullish cross-over. RSI indicator is heading upwards while showing no extremities, as it has just moved above 50. However, the long-term SMA line (200-days) is above the short-term SMA line (50-days), noting the bearish impact over Dash. Check out our Dash Price Forecast to know more about the prediction of the coin by experts.

Notably, the price levels around $73.95 and $74.98 are to watch out for if it crosses the resistance near $72.69. Also, the coin may see support near $70.4, and $69.37 if a price drop takes place.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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