The DASH privacy crypto coin, like all crypto currency and tokens is in the middle of a Crypto Winter with prices depreciated from earlier highs.
- DASH coin price is forming a falling wedge pattern on the daily timeframe, and currently, it is resting at the long-term demand zone.
- The coin is forming a symmetrical triangle pattern on an hourly time frame.
- The pair of DASH/BTC is trading at 0.002186 with a decrease of -1.2% in the market cap of the digital asset over the past 24 hours.
DASH coin’s price is in a strong downtrend after breaking down the long-term demand zone and turning the supply zone at $87.77 in a broader time frame. There seems hope for recovery in the coin as it is resting at the long-term important demand zone of $39.83. The coin has started forming lower low and lower thigh formation on a daily time frame. The coin fell after facing rejection at 50 and 100 EMA, and currently, it is trading below the vital 50 and 100 EMA. DASH coin price is presently at 20 EMA after the fake breakout of 50 EMA. The coin is trading in the middle of the Bollinger band indicator after failing to surpass the upper band of the Bollinger band indicator. Investors should be cautious and not take a long position until the $62.50 price level is not broken. Volumes have increased over the last trading days, causing volatility to increase, and thus investors should wait until the price settles and then take trades.
MACD and Supertrend are showing bearish signs in the daily time frame
As per the price action, the DASH coin price is bearish as the coin broke off the long-term demand zone. The technical parameters suggest the same.
DASH coin price is forming a symmetrical triangle pattern on the hourly time frame
DASH coin price is in a downtrend after facing rejection at the supply zone, and currently, it is resting at the long-term demand zone. The coin is forming a symmetrical triangle as it is making higher lows and is facing rejection from the previous supply zone.
Average Directional Movement Index: ADX has been continuously dipping over the past trading days, and recently, it slipped below 20, as the coin faced rejection at $43.50. The ADX curve is seen recovering, and it has turned upwards at present. Thus indicating a halt in the movement of the price and possible change in the structure of the price movement.
Relative Strength Indicator: RSI is trading at 42.66 as the coin forms a bullish reversal pattern on a daily time frame. The RSI curve is nearing the 50 halfway mark, and thus once it crosses the 50 mark, the coin can be seen moving up, possibly giving a breakout of the falling wedge pattern. The RSI curve has also neared the 50 SMA, indicating a bullish momentum for the upcoming trading days if it breaks above it.
Conclusion
DASH coin price, as per the price action, is showing bearish signs, and the technical parameters are suggesting the same. It remains to see if the coin breaks above the long-term supply zone of $43.6 and moves above it or faces rejection and again falls.
SUPPORT: $39.8 and $34.6
RESISTANCE: $43.6 and $63.1
Disclaimer:
The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The crypto market is high-risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
Although the material contained in this website was prepared based on information from public and private sources that DashVixen.com believes to be reliable, no representation, warranty or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and DashVixen.com expressly disclaims any liability for the accuracy and completeness of the information contained in this website.
About DashVixen
Dash Vixen is dedicated providing you the latest news, views and opinions about Dash (DASH), and other privacy crypto coins and projects. Our goal at Dash Vixen is to provide you with the best unbiased, and most exclusive information, about the crypto industry.
Via this site DASH Crypto Price Technical Analysis and Prediction | August 2022
