TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Dash Market Update: DASH/USD soars 5% in a dull cryptocurrency market

  • Dash leads the cryptocurrency recovery, testing the short-term resistance at $78.
  • DASH/USD grinds towards a possible triangle breakout, targeting $90.
Dash Market Update: DASH/USD soars 5% in a dull cryptocurrency market
John IsigeJohn IsigeFXStreet

Dash is among the biggest single digit gainers in the cryptocurrency market. Volatility is returning to the digital space following a drab action on Tuesday. DASH/USD is trading 5.46% higher on the day. The European session is likely to experience further upward movement ahead due to bullish trend and high trading volume.

The price is currently above the moving averages where the 200-day SMA is offering immediate support while the short term 50 SMA is in line to offer support at $70.00. Both the MACD and the RSI double-down in the increasing bullish influence. For instance, the RSI has bounced off support and point upwards. In other words, there is still room for growth before hitting oversold levels. Moreover, the MACD is in the positive region, emphasizing the growing bullish grip.

If the bullish action continues, Dash could break above the triangle resistance; a move that could stretch the bullish leg towards $90. Dash traded highs above $140 January before retreating in February and plunging to lows under $40 in March.

DASH/USD daily chart
DASH/USD price chart

Author

John Isige

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

More from John Isige
Share:

Editor's Picks

Ethereum Price Forecast: Whales absorb retail distribution as bear market nears late stage​

Ethereum Price Forecast: Whales absorb retail distribution as bear market nears late stage​

Ethereum (ETH) large holders have been accumulating the supply of retail investors in 2026. In a report released late Wednesday, CryptoQuant analysts highlighted that the supply of the 1K-10K ETH cohort has fallen from 15.6 million ETH in January to roughly 12.9 million ETH.
Hyperliquid reports strong Q2 growth despite revenue decline

Hyperliquid reports strong Q2 growth despite revenue decline

Hyperliquid Research Collective (HRC) reported on Thursday broad growth across Hyperliquid's key operating metrics in Q2 despite a decline in revenue, as adoption of its HIP-3 ecosystem and HYPE token continued to accelerate. The firm noted that holder revenue declined 4.7% QoQ to $142.88 million, while protocol revenue fell 6.6% to $169.37 million, according to a Thursday report.
Dogecoin Price Forecast: DOGE sell-off seems unstoppable despite renewed retail interest

Dogecoin Price Forecast: DOGE sell-off seems unstoppable despite renewed retail interest

Dogecoin (DOGE) is trading under dominant selling pressure on Thursday, hovering below $0.0700, a recent support-turned-resistance level. The meme coin has shed 3% of its value in the first week of August, against a backdrop of heavier selling pressure in previous months since May highs around $0.1186.
XRP nears key support despite multi-signature upgrade proposal

XRP nears key support despite multi-signature upgrade proposal

Ripple (XRP) remains pressured, trading below $1.05 at the time of writing on Thursday. The token has declined for the fourth consecutive day this week, reflecting lethargic sentiment in the broader cryptocurrency market despite the possibility of easing geopolitical tensions in the Middle East.
Bitcoin: Bulls hold the line

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.