|

Dash Price Prediction: DASH poised to dump to $85 as technicals turn bearish

  • Dash bears are nurturing a downtrend following a rejection at $100.
  • Massive losses will come into the picture if DASH/USD closes the day under the 200 SMA.

Dash is succumbing to bearish pressure like other altcoins in the market. The increase in sell orders comes after Dash recently hit a snag at $100. As the bearish grip becomes more vigorous, Dash is unlikely to find support at $90 and, therefore, it may extend to $85.

Dash breakdown awaits confirmation at this crucial level

Declines could gain momentum if Dash closes the day under the 200 Simple Moving Average. The 50 SMA limits movement on the upside in addition to the descending parallel channel’s upper boundary.

Support is envisaged at the middle boundary and $90. However, if the sellers gain momentum, the price could overshoot to the next critical support at $85. The bearish outlook has been validated by the Relative Strength Index’s downward slope under the midline.

DASH/USD price chart

DASH/USD 4-hour chart

On the other hand, a reversal towards $100 will come back into the picture if DASH holds above the 200 SMA. A break past the channel’s upper trendline could send the digital asset significant past $100. It is essential to note that the 100 SMA may delay recovery marginally above $100, but DASH/USD will potentially hit November high at $120.

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.