DASH/USD price analysis: Dash bulls looking to gather momentum to break above downward trending line


  • DASH/USD went up from $81.10 to $81.50 in the early hours of Thursday, following a bearish Wednesday.
  • The relative strength index (RSI) indicator is creeping close to the oversold zone.

DASH/USD has had a bullish start to Thursday as the price went up from $81.10 to $81.50. This Wednesday was heavily bearish for Dash as the price went down from $82.25 to $81.10. The hourly breakdown shows us that DASH/USD initially plummeted to $80.30, before bouncing up to $82.58. The price then dropped from $82.50 to $81 in just one hour, before correcting itself around $81.50.

DASH/USD daily chart

fxsoriginal

DASH/USD is currently negotiating with the resistance at the downward trending line. It is also trending below the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The moving average convergence/divergence (MACD) indicator shows increasing bullish momentum and the Elliott oscillator shows three straight bullish sessions. The relative strength index (RSI) indicator is creeping close to the oversold zone.
 

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Forecast: BTC whales plotting a bullish attack

Bitcoin (BTC) is changing hands at $10,750, mostly unchanged since the start of the day. The cryptocurrency attempted a recovery to $11,000 on Monday but was thrown back inside the range by aggressive short-term sellers.

More Bitcoin News

Top 3 Gainers: OMG, SXP, and STORJ explode 70% and are eying up more gains

The entire cryptocurrency market is bouncing back up, strongly gaining more than $28 billion in market capitalization over the past week. Some of the biggest gainers include OMG, SXP, and STORJ. 

More Cryptocurrencies News

LINK goes through consolidation, preps for a breakout

LINK broke above the downward trending line this Thursday and is currently trending horizontally between the $10 support line and the SMA 20 curve.

More ChainLink news

Bitcoin's mass adoption passes the point of no return

Bitcoin was created in response to the Financial crisis of 2008 and developed within a narrow circle of computer geeks, coders, and libertarians fixated on personal freedom, anonymity, and independence from all sorts of authorities. 

More Bitcoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Keep calm and HODL on until the USA elects the president

Bitcoin (BTC) partially regained the losses incurred at the beginning of the week; however, the upside momentum is still too weak to take the price out of the bearish territory and ensure a sustainable recovery. 

Read the weekly forecast

BTC

ETH

XRP