Dash Trades Above the 52-week Low Price; Confirms the Prevalent Bearishness
DASH, just like other altcoins, rebounds from the 52-week low price that it had hit in the previous trading week around $40. DASH/USD makes the growth of over 5% and currently trades at $42.042. The downtrend is quite notable as the coin started the ongoing trading month with a plunge.
The coin had a temporary upscaling around the price area above $76 in the last week of November, which happened to be the bearish red candle breakout. The steep fall in the past week took the price of DASH to mark a fresh 52-week low.
As per the red dotted line, we believe the price of the coin to have a rising wedge if there happens to be a considerable momentum. Although, the bearishness and selling pressure remains intact as the coin has no support from the daily imminent moving averages.
The long-term moving average is drifty away from the current trading price, and a notable rebound will take some time. To justify the king of the global crypto market—Bitcoin is also trading with moderate volatility and the altcoins have a major resemblance to the BTC price trend.
The technical indicators laid along with the DASH/USD price chart on Kraken, we see that the MACD is running below zero and is seemed to have an adjacent movement with the signal line confirming bearishness.
The RSI of the coin is at 35.85 and is inclined towards the oversold region.