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Dash Price Analysis: Dash advances towards $200

VeChain Price Analysis

TL;DR Breakdown

  • Dash price analysis today is bearish.
  • The next support level is at $176, which was shattered and has since become resistance.
  • The prices have dropped from $182.9 to $180.7 in the past 24 hours and are presently at $174.7.

The Dash price forecast for today is pessimistic, with the current value of $174.7. The $176 support has been lost, and it has become a resistance area. Bulls are currently attempting to retake this resistance in order to make it once again a support level.

With the third backup at $170.6, we could see a price resurgence if this level is maintained. Furthermore, according to CoinmarketCap data, the 24-hour trading volume of the coin has grown by 15.76%, standing at 279 million USD. The cryptocurrency’s market capitalization dropped by 0.77 percent, to 1.8 billion USD.

Today, we expect BTC to grow and for this growth to make it also grow in the short term.

However, if Dash continues to follow our bearish prediction, we could see a fall in price to $163 at best. Only an unexpected bull run would enable the token’s price to be above $200 today and tomorrow, which seems unlikely right now.

The 3-day chart predictions are bearish, with the price following a downward trend after it broke over the resistance at $200.

Dash is currently trading for 166.61 USD, losing 3.3% in 24 hours. The hourly MACD stands at -0.221 and the 4-hour MACD at -0.195, both of which are in bearish territory. The price is up 3.9% over the past 30 days and stands 8.4% in the red for its 90 day trading period.

The DASH/USDT price decline has been bearish since October 10, when prices plummeted by 5.8 percent, followed by another fall on October 12th. The costs are now down more than 3%, with the highest level being 182.8 USD.

September was a tough month for Dash, but October began on a brighter note. The price is currently moving lower below the 50-day and 100-day Moving Averages, indicating that the Dash price analysis has become bearish.

Dash price analysis on the 4-hour chart: Tight range

Moreover, the price action dropped down to the lower end of the Bollinger Bands, trying to break out. If these conditions prevail, we can expect a drop in prices for the short term.

Dash Price Analysis: DASH below $176 support, set to fall further 1Dash price analysis on the 4-hour chart by TradingView

Dash price analysis can also be done using the RSI, which shows a value below the 40-level. This is the region where the selling pressure is higher than the buying pressure. The gradient of the line is positive, indicating that bulls are trying to take the prices higher.

The MACD indicator witnessed a bearish divergence in the short term, creating a reddish histogram while the signal line (orange) is progressing above the MACD line (blue).

Dash price analysis: Conclusion

Our Dash price prediction for today is pessimistic. As the $176 support has been lost, and it has become a resistance area. Our Dash forecast calls to break over the resistance at $200, which would lead to an uptrend to reach prices of about $218 within two days.

Today, our view is that the cryptocurrency will continue its downward trend in the short term, falling to $163 at best. Only an unexpected bullish run would enable the token’s price to be above $200 today and tomorrow, which seems unlikely right now.

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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