- Dash price prediction sees the crypto coin move past the $300 mark after activating a technical pattern breakout.
- Dash might experience a price surge which could take it to $600.
- An overbought RSI could cause a correction for the coin.
The Dash cryptocurrency price surge seems to be catching momentum after moving past its technical breakout mark.
At present, Dash is seeking a new support line above the $300 mark, thanks to the latest price rally. A careful observation of the weekly chart shows Dash’s price rally is halfway to the $600 mark in an impressive upwards move.
Dash price prediction: Dash set for a further price surge
According to Dash’s technical analysis, its inverse H&S pattern (head-and-shoulders) spells a brewing bullish trend.
According to today’s chart activities, the sudden break above the horizontal line ensured the crypto coin recorded a drastic price surge from its opening price of the day of about $268.831 to marginally above the $300 mark. The DASH price has hit a new daily milestone of about $333.982. The opening price was the lowest of the day.
At the time of writing, Dash is trading at about $324 as it continues to keep up with its record-breaking price rally that accounts for a 5.07 percent price surge. If the crypto coin continues with this trend and moves past the immediate critical hurdle at $340, Dash might record an upsurge that could see the crypto coin move towards the $600 mark.
Concurrently, the RSI or Relative Strenght index appears to be moving towards the overbought region, which signals a further upsurge.
The weekly chart is more likely to witness a golden cross pattern as the 50 Simple Moving Average (SMA) showing signs of moving above the 100 Simple Moving Average.
According to the chart by in.tradingview.com, it appears Dash is going to encounter some resistance soon. Even as gains continue to be recorded, there is a likelihood that Dash bulls will continue to increase their grip.
Despite this optimistic prediction, some attention needs to be directed towards the region between $320 and $340. It is in this region that almost 4,800 traders bought about 53,000 Dash coins. This is a harmless resistance that might not have any substantial effect on the Dash price rally. On the downside, the cryptocurrency appears to be sitting in a comfort zone where it enjoys immense support.
Between the $260 and $290 price area, more than 14,000 traders previously bought more than 360,000 Dash coins. Although this is good news, such a price trend might prove challenging to slice through, hindering further bullish trends.
What to expect from Dash price?
Despite its current price surge, Dash might fail to move past the $400 mark if the resistance level at $340 remains unshaken.
Despite the RSI moving towards the overbought region, it is yet to solidify such a movement which means traders should proceed with caution. Also, a correction effort might be witnessed that might challenge the current support level at $300. The worst-case scenario could push Dash prices towards the $280 mark, but this is unlikely.