DASH Rejected Above $85 After Breaking 3-Month Resistance
DASH is one of the go-to investment options and is one of the preferable options for networkers and is ranked amongst the top 25 coins of the global crypto market. DASH with intraday positive and bullish sentiment is hitting the 3-month resistance after a continual growth over the past ten days. However, despite the spike in trading price, DASH is still trading below 50.0% Fib Retracement level.
DASH strengthened after the massive market crash in March and could regain as high as $89 around the month of May. Thereafter, the coin has been facing a strict consolidation within a price range of $65 to $84, and with the recent surge, the currency could rise as high as $85 but is back to trading at $80 with intraday pullbacks.
Over the past 4-month, Dash price has been trading sideways and below 50.0% Fib Retracement level with a 2-month consolidation over the past months. Moreover, the currency retested supports as low as $33.4 during the market crash in March, but as per the current day’s price, it has recovered approximately by 140%.
On a 3-hourly chart, DASH appears strengthening from the past ten days after facing rejection above $75. Bitcoin, along with all the massive altcoins of the market, is having a dull intraday apart from IOTA, which is one of the trending coins amongst the top 25.
DASH faced a strict rejection beyond $85 trading price area, and due to intraday pullbacks, it is now trading with a bearish sentiment at $80. While the coin broke 3-month resistance, the price trend of DASH/USD was hitting the upper 20-day Bollinger Bands but is back to trading between the two. Alongside this, the bands are seen moderately widening, and we project volatility in the near term.
Moreover, with the recent spike to $85, the Dash coin is retaining complete support from 50-day and 200-day MA at $77 and $72 on the 3-hourly chart. The other technicals laid are bearish due to recent price correction to $80, and therefore, the signal line is seen crossing above the MACD line. The RSI is now back from hitting the overbought extremity and is now at 53.37.
