DASH Coin Price Prediction: Can the $30 level Be Sustained?
- The DASH price is currently trading at $32.12 while witnessing a gain of 0.47% during the intraday session.
- The year-to-date return of the DASH price is -23.88% and the three-month return is -34.28%.
- Dash Coin price is trading below the 20,50,100, and 200-day EMA.
The present market sentiment represents the bullish trend in the market. While observing a weekly return of 1.20%, the DASH price shows a slight bullish momentum in the price action.
Since early 2023, the price of DASH Coin Price Prediction: Can the $30 level Be Sustained? has been on a downward trend, starting from its initial low of $41 and reaching a yearly high of $78.12. However, the price was unable to break past this level as it encountered strong resistance on February 16.
This price movement suggests that DASH has faced challenges in sustaining its upward momentum and has encountered significant selling pressure at the $78.12 level.
Source: (DASH/USDT) by TradingView.
Furthermore, the price of DASH Coin Price Prediction: Can the $30 level Be Sustained? showed a long march of bears in the market while the price was in a downtrend, making lower lows from March up to the present. This consistent downtrend has resulted in a decline of approximately 61% from the $78 resistance level to the $31 support level in six months.
From that harsh downfall, the price is now stuck in a consolidating zone between the support and resistance levels of $29 and $38. As of now, the price is currently trading with a gain of 0.47% in the past 24 hours. If the current candle can break the previous candle’s low, there is a high probability that the price will melt toward the $29 level.
Technical Analysis Of DASH Coin Price
Source: (DASH/USDT) by TradingView.
The relative strength index (RSI) trades at 43.65 during the intraday session. RSI denotes weakness in the market as the DASH price is depleting daily.
The Chaikin money flow (CMF) score is -0.00 during the intraday session, indicating neither strength nor weakness in the market, and the price might consolidate. The Bitcoin SV price is currently trading below the 20, 50, 100, and 200-day EMA, indicating weakness in the market. Hence, the participation of sellers increased in the market.
The long and short ratio is 0.7966, with shorts at 55.66% and longs at 44.34%, representing the pressure from the sellers in the market.
Conclusion
Technical parameters suggest that the DASH Coin Price Prediction: Can the $30 level Be Sustained? price is in bearish momentum. The price might shrink downward to the current demand zone of $28.70. Investors should look for selling opportunities as the indicators suggest the same.
Technical levels
Major support: $43.47 and $23.88
Major resistance: $64.82 and $74.12
