DASH/USD: Bears dominate as price goes down by 5% in one day

DASH/USD bears dominated the market this Wednesday as the price went down from $83.30 to $79.
Technical indicators show an overall bearish sentiment.

Rajarshi Mitra Independent Analyst

DASH/USD bears had a field day this Wednesday as the price went down from $83.30 to $79, witnessing a drop of 5% on market speculation. Future price drop maybe expected as technical indicators show an overall bearish sentiment.

DASH/USD daily chart

Bears were able to breach past the support provided by the upward trending line. The market is now also trending below the 20-day simple moving average (SMA 20) curve. The moving average convergence/divergence (MACD) histogram shows us that the market momentum has shifted over from the bulls to the bears.

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.

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