- Dash (DASH) price surged 0.43% on the past day and currently trading at $33.83.
- Dash (DASH) whale holdings data states that whales hold 7.5% of the total supply with a significant increment of 1.5% in the holdings in the past 1 year.
Dash (DASH) cryptocurrency launched in 2014, is an open-source blockchain and crypto which focuses on offering a fast, cheap global decentralized payment system. It provides stronger privacy and faster transactions.
Dash’s price is currently trading at $33.83 with an increment of 0.43% in the past 24 hours. According to coinmarketcap data, DASH cryptocurrency holds a total market cap of $384.5 Million and ranks at 92nd position in the crypto market. It has received $47.04 Million in volume in the past 24 hours which is 7.2% less than the previous day. Also, It has over 11 Million circulating supply which is 60.12% of the total supply. The volume to market cap ratio of DASH coin is 12.70% which indicates medium volatility in the market.
Uniswap Price Prediction Using Price Action Strategy
As per the price prediction of Dash cryptocurrency in the weekly timeframe, DASH price was observed to be in a long-term downtrend as it has formed a new swing low in the past 3 weeks. Moving over to the daily timeframe, it is observed that Also Price is respecting a trendline resistance and gets rejected from the resistance to form a new low.
Currently, the Dash cryptocurrency price has taken a pullback and again got a rejection from the trendline resistance. The volume analysis shows that the current volume in the market is almost 30% of the avg volume. It indicates that neither buyers nor sellers are interested in the market for now, Also, Indecisive candles being formed in the daily chart confirms it.
Now, The price Action Analysis states that if the price has to change its trend it needs to break and sustain above trendline resistance. It will result in a change in the character of the price into an uptrend in the short term after which the price may incline up to the recent swing high at $45.22 or the next recent swing high.
Moreover, the price action is already favoring sellers in the long term. In the short term also the price has got rejections from the trendline resistance but lacks momentum to break the swing low. Now, the DASH coin needs more sellers to accumulate to form a new swing low. If the price starts declining with significant volume in the market then it may form a new swing low.
Indicator Analysis
As Per the EMA analysis, DASH’s price is trading below all the EMAs which shows the bearish sentiment in the market. Also, the price has got a rejection from the 50-day EMA and started declining.
At the time of publishing, the RSI value of Dash is 44.06 and that of the SMA line is 48.53. RSI has broken the SMA line and changed its trend to the downside which indicates bearish sentiment in the market.
MACD lines have made a bearish crossover and lines are facing rejection from the mean line. Also, histogram bars are forming below the mean line which shows weakness in the market.
Conclusion
As per the combined analysis of price action and indicators, Dash’s (DASH) coin price prediction concludes that the price was taking a pullback but got a rejection from trendline resistance. It started declining but lacked momentum. Now it requires more sellers to accumulate so that the price may gain momentum and form a new swing low. The long-term trend is also favoring the sellers.
However, If sellers are unable to break below the swing low then a Double bottom pattern will be formed in a daily timeframe which will encourage buyers to take charge and try to change the current trend of the market.
Technical levels
- The support levels at $25.25 and $20.89
- The resistance levels at $44.96 and $63.62
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
