DASH Technical Analysis: Will The Market Value Sustain Above $60?

DASH price shows a consolidation breakout as the buyers resurface to overtake trend control. Will the new uptrend sustain above $60? Key technical points: The DASH market value increased by 3.16% in the last 24 hours. Price action shows a consolidation range breakout. The 24-hour trading volume of Dash is $154 Million, indicating a hike of 14%. Past Performance of DASH DASH prices kept facing dynamic resistance from the 100 DMA resulting in the downfall from $115 to $50 within two weeks accounting for a 50% fall. The bullish support at $50 cushions the downtrend and starts a sideways shift forming a consolidation range with overhead resistance at $60. However, the recent recovery in the overall market helps buyers resurface to crack the $60 barrier. Source- Tradingview DASH Technical Analysis Currently, the daily candle shows a higher price rejection and yesterday’s hammer candle warns against an evening star candle formation. If successful, the bearish pattern will put the trend back within consolidation marking a bullish fakeout. The Daily Moving Averages – 20, 100, and 200-days maintain a bearish alignment and showcase a falling trend. However, the trendline breakout rally surpasses the 20 DMA and projects a likelihood of approaching the 50 DMA. The RSI indicator displays a significant increase in the bullishness of the underlying trend as the slope rises above the 14-day average and reaches the halfway mark. However, the s...