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.

DASH/USD 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Crypto Today: Bitcoin, Ethereum and Ripple meet the ultimate resistance

BTC/USD pair is exchanging hands at $9,765 after a bearish Asian session on Monday. There was a struggle over the weekend to break that barrier at $10,000.

More Cryptocurrencies News

Ripple Price Analysis: XRP/USD spirals as $0.27 beckons

The cryptocurrency market is in shambles on Monday towards the end of the Asian session. Unlike the weekend session which was characterized by the struggle to break key barriers across ...

More Ripple News

Ethereum Price Analysis: XRP/USD dumps $7 from $275 weekly close

Ethereum had impressed many analysts and crypto enthusiasts with its weekly close above $275. Many had started seeing the grand gesture as the beginning of the journey to $300. However, sellers had a hidden ...

More Ethereum News

Litecoin Technical Analysis: LTC/USD ignores golden cross as rejection $80 continues

Litecoin price digs deeper into the Bollinger Band lower curve amid high volatility and a stronger bearish grip. If the short term trendline support gives in, there is a chance the price would slide back to the support at $65.

More Litecoin News


Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast