Dash Remains Consolidative Between Recent Lows and 100 EMA!

Dash Remains Consolidative Between Recent Lows and 100 EMA!

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Dash token value has managed to halt its negative progression quickly. Plugging the gaps helped the price consolidate above the immediate support level of $38.4. The resistance has managed to stay strong at $59. RSI indicator has slowly moved into the consolidation status with a level of 46. Still, MACD is showcasing the probability of a huge breakout with the stronger bullish crossover it created today.

The technical outlook for Dash token improved, but the transaction volumes have greatly dipped. On weekly charts, all positive expectations from Dash token have been staggered since the one-week decline wiped out an entire month’s positive buying and battling the profit-hungry sellers.   

Gradually, $59 has emerged as strong resistance to its price action, and based on its revelation, the marginal negative movement of today is justified. However, the RSI and MACD indicators both are projecting a positive stance for the Dash token in the coming days.

Since the 100 EMA curve of Dash lies slightly above the $50 mark, the chances of a positive breakout get shattered with each technical indication. Another strong resistance has developed as the 200 EMA curve at $75. The flexibility offered by the Dash payments network can push its token value slightly above its high of $440 in May 2021.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ – the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world’s leading cryptocurrencies.

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