Dash Market Update: DASH/USD towers the crypto landscape to test $80
- Dash soars to new 2020 levels not traded since last November.
- Recovery stalls short of $80; reversal is likely in the short term.
Dash is simply the biggest single-digit gainer in the cryptocurrency market. The immense bullish action is in tandem with the bullish wave experienced across the market. Dash leads the recovery from the weekend losses as well as the depression faced on Monday.
The digital asset is up 7% on the day, from an opening price of $69.49. The bullish action adjusted to highs above $75, testing the resistance at $80. Meanwhile, Dash is trading at $73.98, although a reversal is likely based on the retreating RSI. The traders need to be on the look out for RSI’s drop below the overbought region, as it is likely to signal a reversal into the $69 range.
On the other hand, the MACD is still rising above the mean line. It’s bullish cross suggests that the bulls will stay in control a while longer. Support is expected at $75, $70 as well as $65. The moving averages, including the 50 SMA and the 100 SMA on the hourly chart will also function as support areas.
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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
