TL;DR Breakdown
- The DAI price analysis suggests bull market is set to continue throughout the weekend.
- Most of the cryptocurrencies are trading a bullish trend on the cryptocurrency heat map.
- Indicators show a possible surge of DAI/USD to $1.5
Dai price analysis: General price overview
On the 5-day Dai rice analysis chart, the DAI/USD pair traded in a moderate momentum. The Moving Average indicator was positive, indicating that the market is bullish. Also, the Bollinger bands were wide in most of the trading sessions, indicating that the market has been bullish.
The cryptocurrency bull run started early last month, and it does not seem to be stopping soon as per DAI price analysis. Bulls have gained significant strength, becoming a rock for the bears to break. On the five-day price analysis chart, bulls dominate most parts of the market.
Although the bulls seem to control the DAI/USD price, sellers have also caused several pints of resistance, leading to short-term bear dominance.
Source: Coin360
Most of the cryptocurrencies are bullish as we enter the weekend. The most dominating digital asset BTC is trading with a 2 percent increment a few hundred dollars above $5OK. The second-largest digital asset, Ethereaum (ETH), trades in the same direction, recording more than 4 percent gain a few dollars below $4,000.
The Binance coin is slightly bullish; it is trading at $486 with a 0.78 percent gain. The bears seem to have invaded the BNB/USD market, aiming to reverse the bullish signal over the weekend according to DAI price analysis.
Even though most parts of the crypto heat map are green, some altcoins have recorded a massive dip in price; THR has declined by 17 percent, making it the best loser. At the same time, BTCB is up 20 percent. DAI/USD also trades in a bullish momentum with 0.68 percent.
DAI/USD price movement in the last 24 hours: Bulls control DAI/USD price
Two hours before yesterday’s Dai price analysis chart closes, the DAI/USD experienced a bullish momentum that was cut short when the daily price analysis chart opened. The sellers had gathered their strength to break the bull’s momentum. The seller set into the market, causing a sharp downturn that sent the prices to intraday lows of $0.89.
In most trading sessions on the daily price analysis, the Relative Strength Index has been hovering in the overbought region. This indicator puts everything clear on how the market is trading and the possible trading momentum. According to the RSI, the market is bullish, and it is likely to trade in the same trend throughout the weekend.
DAI/USD 4-hour price analysis: Possible price surge
Most of the indicators suggest a bullish weekend for the DAI/USD pair.
Source: Tradingview
The MACD line has crossed over the red line signaling a bullish trend over the weekend as per DAI price analysis. The green bars are tall then the red bars on the four price analysis chart.
The Balance of Power indicator suggests that the bulls have more strength than bears meaning that the price of DAI/USD will continue surging until the seller cause significant resistance.
DAI price analysis conclusion
The 100-day Moving Average has crossed over the 200-day Moving Average. This indicates that the bulls are more potent than the bears because the short Moving Average crossed over the 200- day MA.
This weekend, many technical indicators in the DAI price analysis suggest the bull run will continue. If bears will not bring down the bulls, the DAI/USD pair price is set to hike to $1.5 before next week.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
