Dash Price Analysis: DASH/USD goes through price correction, drops back into the 20-day Bollinger Band
- DASH/USD fell below the $120-level this Friday.
- The RSI indicator is about to drop below the overbought zone.
DASH/USD daily chart
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DASH/USD bears maintained control of the market for the second day in a row after the bulls ran out of steam at the $133.50-level. This Friday, the price of DASH/USD fell from $127.25 to $110. In the process, the price dipped back into the 20-day Bollinger Band for the first time after six days. This shows us that the asset was overpriced for the last six days and the bears have successfully managed to correct the market. This is further corroborated by the fact that the Relative Strength Index (RSI) indicator is on the verge of leaving the overbought zone. The bulls will need to protect the $100.25 support level to prevent DASH/USD from dropping below the $100-zone.
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.
