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Dash Price Analysis: Will Bullish Rally Spike Above $130?

DASH Price Long-Term Trend:

For the past three months, Dash has been trending higher; nearing $150 before retracing back to $105 on the orange line. After the retracement, DASH market bounces up to a current trading price of $123 level; aiming at $130 resistance level.

While respecting the trend line, DASH may locate support at $110 if the price suddenly drops. More so, the bullish rally may spike above the close resistance of $130 if the buying force compounds; $140 and $150 may be the next resistance levels. On the other hand, a break below $110 support is likely to slip price to $100 and $90 support levels.

Looking at the daily RSI, It is revealed above the 50 level in a downward direction. With the RSI condition, there’s still a tendency for this market to fall. The bullish continuation is yet to be confirmed above the potential resistance of $130 level.

Minding the daily Stochastic RSI, the ongoing buying pressure is revealed close to the overbought level. There’s still breathing space for the bulls to further move. At the moment, DASH market can be considered to be in the bullish territory.

 

DASH Price Medium-Term Trend:

From a medium-term perspective, Dash appeared on a bear flag pattern. Better still, it can be said to be maintaining a descending channel formation for the past four weeks. Obviously, the bears have gained control of this market. The bearish scenario is revealed on the 4-hours RSI.

Before the last three days rise, DASH market had remained below the 60 level since the price fell in April; now resting at the horizon of the overbought level. The breach at the 60 level of the RSI might lead to an upward move. A close resistance level lies at $128.

Meanwhile, the price is yet to break-up the descending channel. If the signal is false, the market would continue to respect the descending channel; visiting $112 support level.

As revealed on the 4-hours Stochastic RSI, a potential drop is around the corner. Nevertheless, the position of the market remains intact in a descending channel as the selling momentum continues on the current market outlook.

 

DASH Price Short-Term Trend:
Following the April 25 decline, DASH reversed upward and steadily climbs within a channel boundary until yesterday when price broke-up the upper trend line and has since traded above the channel. Today, DASH retraced close to the break-point at $120 level and bounced up. Currently, the token’s is steady at around $122 price level.

If the price manage to drop below the $120 level, the bears may look for a near support level within the channel; testing $118. However, the bulls’ target lies at $126 resistance level. After DASH reached the overbought condition of the hourly RSI, its price had dropped below the overbought level; currently aiming low.

The hourly Stochastic RSI is clearly revealed close to the overbought level.

 

font: https://coincodex.com/article/3529/dash-price-analysis-will-bullish-rally-spike-above-130/