• Dash price has lost 15% of its value in the past 24 hours after a significant sell-off.
  • Several on-chain metrics indicate the digital asset has more room to grow.

Dash was trading as high as $120 on December 21 before a massive sell-off down to $101.97. The digital asset is now trying to hold a critical support level to see a rebound as most on-chain metrics are still positive.

Dash price aims for a rebound towards $120

On the 4-hour chart, Dash price slipped towards the 50-SMA at $104 but managed to hold this critical support level for now. It seems that the digital asset is ready for a rebound as long as the bulls continue defending this level. 

dash price

DASH/USD 4-hour chart

The number of new addresses and active addresses on the DASH network has increased by more than 40% in the past week. This metric has been in an uptrend since the beginning of December which indicates new and old investors are highly interested in the digital asset, adding buying pressure.

dash price

DASH new and active addresses chart

Additionally, the In/Out of the Money Around Price (IOMAP) chart shows very little resistance to the upside until the area between $120 and $124 which coincides with our price target. The most significant support range is located between $110 and $107 and there is a lot more support on the way down in comparison to the resistance above. 

dash price

DASH IOMAP chart

However, despite the positive metrics, the digital asset could still slip further down if the 50-SMA support level is broken. A breakdown below this point can quickly push Dash price towards the psychological level at $100 which coincides with the 100-SMA.

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Bitcoin price congestion warns of a 25% breakout

Bitcoin price congestion warns of a 25% breakout

Bitcoin price sideways action signals smart money involvement. A jaw-dropping rally could occur in the very near future. Bitcoin price action is currently distorting severely compared to the previous consolidations within the decline.

More Bitcoin News

Cardano price is still on pace to retest $0.40, but bears shouldn't get too excited

Cardano price is still on pace to retest $0.40, but bears shouldn't get too excited

Cardano price is preparing for a retest of $0.40 before a massive countertrend rally occurs. Cardano price is on professional traders' urgent watchlist as the digital asset could enter a mid-term bottom in the $0.45 zone.

More Cardano news

Why XRP, Cardano, Solana and Dogecoin could be about to flash crash

Why XRP, Cardano, Solana and Dogecoin could be about to flash crash

Data for a recent report by Bybit revealed high transaction activity on Ethereum-killer Solana. However, analysts argue this could indicate an upcoming decline in altcoin prices. XRP, Cardano, Solana and Dogecoin could soon witness a 90% collapse. 

More Solana news

Shiba Inu price displays bullish exhaustion as bears aim for $0.00000800

Shiba Inu price displays bullish exhaustion as bears aim for $0.00000800

Shiba Inu price warrants the idea of further sell-off as the bulls are failing to retaliate against the bearish strong hold. Shiba Inu price lack of bullish momentum spells for another decline expected to happen in the very near future.

More Shiba Inu news

Bitcoin: Multiple scenarios arrive at the same bearish conclusion

Bitcoin: Multiple scenarios arrive at the same bearish conclusion

Bitcoin price shows interesting setups from multiple time frames that hint at a confluence. This convergence occurs for the short-term bullish outlook as well as the macro bearish scenario for BTC. 

Read full analysis

BTC

ETH

XRP