2 - 4 minute read
According to recent forecasts, Dash, a cryptocurrency, is expected to experience a recovery above the $43 level as it approaches a major resistance level near $45. Currently, the Dash price is at $43.88, with a market capitalization of $485.1 million, a circulation of 11 million units, and a total supply of 11 billion units. The coin is ranked 67th in market capitalization.
Technical analysis of the DASH/USD market reveals that the coin is currently being controlled by bulls, as it has crossed the 9-day moving average. However, the lack of buying power may make it difficult for the bulls to push the price towards the upper boundary of the channel. The Relative Strength Index technical indicator is above the 50 level, indicating a sideways move.
In terms of price predictions, it is possible that Dash will experience a sharp rise due to the upward trend of the 9-day Simple Moving Average above the 21-day Simple Moving Average. If the bulls continue to dominate the market, the DASH/USD price may reach resistance levels of $55, $60, and $65. On the other hand, if there is strong selling pressure, the price may fall to support levels of $35, $30, and $25.
Against Bitcoin, Dash is currently trading within the 9-day and 21-day moving averages, with bulls entering the market. At the time of writing, the Dash price is at 2605 SAT and has not yet risen above the 21-day moving average. If the coin continues to show upward momentum, it may encounter resistance above 3000 SAT. Technical analysis of the DASH/BTC market suggests that the market may remain bullish, as the Relative Strength Index is above the 50 level. However, a downward movement could potentially lead to support below 2300 SAT.