Will DASH be Able to Sustain Its Month-long Bullish Momentum?

Dash cryptocurrency is reflecting a moderate price movement with a slight bullish impact. A few days ago, the escalation in the price was tremendous. If we widen the scale and compare the price from January 12 till today, then there is 2x improvement observed by the DASH price.

On January 12, the coin was trading at $63, and today, the price is at $124. Apparently, the growth in the coin has impressed the traders.

Dash Price Analysis

Dash coin was trading at $63.34 on January 12, and then, it escalated to $87.74 by 38.51% in the next two days. From this price point, the currency’s price trend remained intact and touched $139.74 by a massive hike of 59.03%. Then, the DASH coin price dropped to $92.37 by 33.90% fall on January 19. Later, the price recovered and reached $114.48 on January 20. From this high, the coin price corrected downwards in the next three days and touched $93.84. The next 5 days experienced escalation. The price counters moved from $93.84 to $126.90 by 35.22%.

The last few days of January reflected moderate price correction. DASH price dropped to $116.58. February started with a moderate movement. In the first four days, the coin traded from $116 to $112. On February 05, the price was at $122.27. In the next few days, Dash coin price reflected moderate volatility. It slipped to $114, and then again, it recovered to $128. Since then, the coin is spotted trading downwards and at the time of writing this analysis, it was trading at $124.56.

As per the MACD indicator, the signal line overlapped the MACD line. This indicates that the coin might be seen dropping in the coming hours.

DASH coin has violated the immediate support level. If the current trend remained intact, then the price might breach the next support level at $121.

Resistance & Support Levels

R1: $129.22, R2: $131.1 and R3: $134.15

S1: $124.29, S2: $121.24 and S3: $119.36

Lili Chuang

Lili Chuang is a finance professional with an experience of over a decade in news writing. Recently, she has joined the CoinNewSpan team as a sub-editor. She is a firm believer of blockchain technology and cryptocurrencies. She curates contents regarding the latest insights into the crypto-market. In her free time, she loves to explore new places and connect with influential people of crypto space.

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Lili Chuang