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Dash Price Analysis: DASH below $176 support, set to fall further

Dash price prediction

TL;DR Breakdown

  • Dash price analysis today is bearish as the token is down by 3.3%.
  • The nearest support is at $176, which was broken and has now turned into resistance.
  • The prices moved from $182.9 to $180.7 in the past 24 hours and are currently at $174.7.

The Dash price analysis for today is bearish, with the current price being at $174.7. The support at $176 was lost, and now, it has turned into a resistance zone. Bulls are trying to reclaim this resistance and turn it into a support level once again.

With another support at $170.6, we might see a price rebound if this level holds. Furthermore, the data from CoinmarketCap suggests that the 24-hour trading volume of the token has risen by 15.76%, standing at 279 million USD. The market cap of the coin dropped by 0.77%, at 1.8 billion USD.

Dash price movement in the recent days

In the past few days, the Dash price movement has remained bullish for October but is bearish in the short term. The month of September ended with an 8.7% price surge, followed by a 6.5% price increase on 1st October. On 3rd October, the prices rose by more than 6%, while Bitcoin is currently at 54.6k USD.

The DASH/USDT price movement has been bearish since 10th October, when prices dropped by 5.8%, followed by another price drop on 12th October. Currently, the prices are down by more than 3%, while the highest price being 182.8 USD.

Dash price analysis: Technical indicators bearish on the 4-hour chart

The month of September was quite bearish for Dash, but October began on a more positive note. Currently, the price movement is below the 50-day and 100-day Moving Averages, turning the Dash price analysis bearish.

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 1
Dash 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
Dash price analysis on the 4-hour chart by TradingView

Dash price analysis: Conclusion

Our Dash price analysis is concluded on a bearish note for today, although the bulls are trying to take the prices higher. The current support holds while the buyers try to reclaim the breached earlier support, which is now the resistance.

For more details, visit our Price Predictions.

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.
John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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