Dash Market Overview: DASH/USD breakout leads cryptocurrency recovery
- Dash breaks the descending trendline resistance amid renewed bullish strength.
- DASH/USD gains 1.16% in a bear dominated cryptocurrency market.
Dash bulls have been intentional in their quest for recovery, possibly hunting for a better close to year. After finding support at $48 following the declines in November, Dash recovered to highs above $62. However, the bulls started to lose ground toward the end of the month. Another low was formed at $52.61, giving way to the ongoing recovery.
With the trendline resistance in the rear view, Dash is struggling to clear the resistance at the 100 SMA on the 1-hour chart. The 50 SMA at $54.63 will also hinder growth ahead of the hurdles at $56 and $62.
The RSI recently came into contact with the oversold at 30. The indicator has significantly recovered above the average and sits at 53.48. Looking at the MACD, Dash has a bullish advantage. If the MACD crosses above the mean line, Dash could acquire the momentum to correct above the resistance at $56.
DASH/USD 4-hour chart
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Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
