|

Dash Price Analysis: DASH/USD sets the pace for recovery even as Bitcoin stalls under $10,000

  • Dash leads recovery on Tuesday after breaking the key trendline resistance.
  • DASH/USD is comfortably in the hands of the bulls; ready for action above $80.

The cryptocurrency market is mixed red and green on Wednesday during the Asian session. Dash is among the cryptoasset in the green, after advancing higher 1.20% on the day. Major digital assets such as Bitcoin, Ethereum, and Ripple are struggling to detangle from the bearish grip. Bitcoin, in particular, has its price action limited under $10,000. The longer Bitcoin stays under this critical zone, the stronger the sellers become which means there is a possibility of a nosedive in the near future.

Meanwhile, Dash is teetering at $78.05 after extending the bullish leg from $77.07 (opening value). Its existing trend is bullish amid expanding volatility. In other words, Dash bulls are in the driver seat and working hard to break the next short term hurdle at $80.

From a technical perspective, Dash is indeed in the hands of the bulls. The RSI is gradually reaching towards the overbought. The bullish strength is also emphasized by the MACD, currently sitting in the positive territory. If the technical picture remains intact, it is only a matter of time before Dash extends the price above the key trendline resistance. Another technical breakout is expected past the 50% Fibo likely to catapult DASH/USD towards the $90 level.

DASH/USD 4-hour chart

DASH/USD

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:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Dogecoin Price Forecast: DOGE breaks key support amid declining investor confidence

Dogecoin (DOGE) trades in the red on Thursday, following a 4% decline on the previous day. The DOGE supply in profit declines as large wallet investors trim their portfolios. Derivatives data shows a surge in bearish positions amid declining retail interest.

Cardano Price Forecast: ADA dips below $0.37, hitting two-month low as bearish momentum builds

Cardano (ADA) price trades in the red, slipping below $0.37 on Thursday after correcting more than 7% so far this week. The ongoing pullback could deepen further as ADA’s social dominance declines and dormant wallet activity rises, suggesting bearish sentiment among traders.

Top Crypto Losers: Pump.fun, SPX6900, Bittensor slide further with double-digit losses

Pump.fun (PUMP), SPX6900 (SPX), and Bittensor (TAO) are leading the losses in the cryptocurrency market over the last 24 hours amid total liquidations of over $500 million. The retail segment alleges institutional manipulation amid an early-morning Bitcoin sell-off routine in the US market.

Bitcoin, Ethereum whipsaw sparks heavy liquidations amid accusations of market manipulation

The crypto market whipsawed on Wednesday as top cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), quickly reversed gains from the early American session.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.