In terms of the daily price chart, the DASH coin has been following the ascending triangle pattern since the reversal of the bullish sign.
After branching 20-day moving average, DASH coin investors are struggling to break out of the 50-MA line.
DASH/BTC pair price seems to be bullish by 1.6% at 0.002272 satoshis.
Since the bears started sharp-selling of the coin, it slid lower after reaching record highs. The coin has recently formed the 52-week lowest price at $80.5, since their investors have been starting to think about buying it. At the time of writing, dash coin is trading slightly bullish by 0.52% at $116. However, the Coin price reflects the ascending triangle pattern in terms of the 4-hour price chart, and now the price is just below the horizontal resistance level of $120.
Since the All-time high, the price action of Dash coin had been reflecting the sell on rise formation and before slipping below $120 level, the coin noted the triple top structure (red icon).
Recently, Dash coin retested the psychological round level of $100 as support and continued upside rally, which reflects that the $100-level is a strong dominating zone of buyers. However, the crypto has gained 72% of trading volume over the past 24-hours, and the daily volume bars are approaching 20-MA line (blue). The volume to market capitalization ratio is 0.2034. Moreover, the DASH coin price is trading near the upper level of the Bollinger Bands indicator after successfully maintaining the price above 20-MA.
DASH/BTC Pair Formed the Double Bottom Formation Near Demand Zone
The DASH coin price with respect to the Bitcoin pair notices the double bottom formation in terms of the daily price chart. At the time of writing, the Pair price is approaching the neckline of the following formation at 0.002272 satoshis. However, the pair price is still in the red zone of the Super trend indicator.
The DASH investors are attempting to push the crypto price above 50-day moving average after successfully sustaining above 20-MA. If bulls breach the 50-MA as well as $120-resistance, then we could see a sharp rise.
The Daily RSI is moving higher after retesting the half-line (50-mark) and noticing the higher highs. Now the RSI is at 56-mark, which may attract buyers for the key $120-resistance breakout. Moreover, the average directional index is below 20, suggesting weak momentum.
Conclusion
The $120-level represents the only bullish hurdle for the bulls. It is possible to see a $150 level at the end of this month if bulls break this level with significant volume.
Support level – $100 and $80
Resistance level – $120 and $150