Following last week‘s bearish run, the Dash price has revealed some improvement as it was able to surge upwards following a support rally which took place on the 27th of November. This movement permitted the coin to rise above the baseline.
Dash Price Analysis – 27th November (DASH/USD)
As displayed by the featured diagram above, the coin showed surges upwards for brief periods. The support level helped the coin surge upwards to close at the $52.21 finally. This indicates that the price is showcasing some improvement from the effects of the volatility.
The baseline for the currency was set at the $50.72 mark, and the highest value for the day occurred nearing the day’s close at the $52.86 level around 23:38 GMT. A steeped surge ensued as a result of increased buying volumes at 05:45 GMT. This led the price to $51.75 before it fell shortly after.
The support level of $47.98 was reached at approximately 15:05 GMT, which cause the price to fall. However, as it rose, it helped garner enough momentum for the price to surge beyond the baseline to close at $52.21.
As showcased by the full-featured diagram above, the price mainly hovered near the daily moving averages, with the exception of when the coin went over its support zone and surged upwards. This shows notable variation in the trading price of the altcoin. The 50-Day Simple Moving Average (SMA) closed at $52.33, whereas the 20-Day Exponential Moving Average (EMA) concluded at $52.38.
Based on the day’s data, the next resistance levels could be levelled at $54.04, $55.86 and $58.89. However, in case it falls to support levels once more, it could find itself at the $49.19, $46.16 and $44.34 marks.
Featured Image Background by Dominik Schröder