Dash market overview: DASH/USD creeps into the oversold zone
- DASH/USD has been trending horizontally in a narrow range below it dropped down.
- The MACD indicator shows increasing bearish momentum.
DASH/USD has been trending horizontally in a narrow range between $74 and $67.50 before the bears rallied together and dropped the price down from $67.40 to $62.85 this Wednesday. The price has tried to break above the resistance provided by the downward trending line and the 20-day Simple Moving Average (SMA 20) curve but has repeatedly failed to do so. The hourly breakdown shows us that the price was trending horizontally around $67 before it dropped to $62.75 within three hours. Currently, the price had fallen further to $62.
DASH/USD daily chart
The 20-day Bollinger width is steadily increasing, which hints at increasing market volatility, while the Relative Strength Index (RSI) is trending at the edge of the oversold zone. The Moving Average Convergence/Divergence (MACD) indicator shows increasing bearish momentum.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
