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DASH Price Analysis: DASH/USD gains 8% in a matter of hours, aims at $85.00

  • Dash is one of the best-performing altcoins on Wednesday.
  • DASH/USD is poised for further upside after a short-term correction.
DASH Price Analysis: DASH/USD gains 8% in a matter of hours, aims at $85.00
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

Dash is one of the best-performing digital coins with over 8% of gains since the start of the day and over 4% on a day-to-day basis. At the time of writing, DASH/USD is changing hands at $84.15 DASH takes the 23d place in the global cryptocurrency rating with the current market capitalization of $781 million. 

DASH/USD: Technical picture

On the daily chart, a sharp move above SMA200 at $82.50 created a strong bullish impulse and pushed the price to the highest level since the beginning of May. Now, this technical barrier serves as strong support that may slow down the correction once it starts. If it gives way, the sell-off may be extended towards the upper line of the daily Bollinger Band at $80.54 followed by the psychological $80.00. 

The daily RSI has entered overbought territory, though, it shows no signs of reversal as of yet. It means that the coin has not exhausted its bullish potential. The growth may be resumed after a short-lived retreat with the next aim at $85.00.

DASH/USD daily chart

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

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