DASH Price Prediction: Dash Price Reaches Oversold Region
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- 1 Dash price is standing at $41.52, with a decrease of -1.21% during the intra-day session.
- 2 Dash price is trading below 20,50,100 and 200-day EMAs.
- 3 The 24 hour volume of DASH is $58,801257.
Dash price is currently in bearish momentum after breaking the support of $46.40 level. The gains made by DASH in 2023 have been lost after the break of support. Dash price started its bullish rally during the month of november in 2022. Price started to rise from the low of $31.95 rising approximately 154.79% forming a high at $77.90.
Dash price then shifted to bearish trend as price received heavy rejection from $75 level which pushed the price down to $46.40 level. The price then gained some bullish momentum and tried to retest the highs of $77.90 but was halted by the bearish sentiment in the market at $64 level. The price started to consolidate after rejection forming support at $51.92 level. The bears have taken full control of the market which is a result of negative sentiment hovering over Dash price.
Dash Price loses 2023 gains
The current candle is on the verge of breaking the recent support of $41. If break of this support happens, the next target for price resides at $34 which would decrease the price by approximately 21%. DASH price is currently trading below 20,50,100 and 200-day EMA indicating a strong bearish momentum in the price.
The 20-day EMA is acting as a resistance for the price and traders should be aware if price reaches near it. If bulls can defend the $41 mark, there is a higher probability for the dash price to retest $46.40 level. The probability of any sort of bullish move for the price is pretty low.
Dash Price Headed Toward $34 Price Level
RSI trades at 26.38 entering the oversold zone indicating a chance of pullback in price to move further down. There is a chance for the price to go through a consolidation phase before deciding the direction in which it may head. Chaikin money flow is currently at 0.02 after reaching -0.12 indicating price is gaining strength and might show some bullish momentum in upcoming days. Dash price has also reached the lower band of bollinger indicating a chance of pullback in the price. The longs/shorts ratio is 0.94 with 48.55% longs and 51.45% shorts indicating increased sellers in the market in the past 24 hours.
The market structure and price action is bearish for Dash price. The technical parameters indicate the possibility of pullback in the price before moving further down to $34 level. The bulls need to enter the market to protect the price from falling further. The bearish momentum is high and would require a phase of consolidation for bulls to stop the downfall. Dash price has also formed a Dash cross in the previous month which has resulted in a significant loss in Dash price.
Major support: $41 and $34.
Major resistance: $51.90 and $61.
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.