DASH price is recovering from the crucial zone after respecting the vital support verge of the $80 mark.
The crypto asset broke through the 20MA line and is currently trading at 50MA. Now the 100 and 200-days DMA will be the only hurdles faced for the expected bullish reversal.
The pair of DASH/BTC is trading at 0.002655 BTC with an intraday gain of 2.82%, whereas the DASH/ETH pair is CMP at 0.03715 ETH with a 24-hour positive change of 3.99%.
DASH Coin Price is presently at $117.5 and has gained 6.50% in the intraday trading session. The 24-hour trading volume has increased to 19.80%, which signifies the traders’ attraction towards the coin. Whereas volume to market cap ratio is 0.1535, and the market cap value of the crypto asset has increased by 6.50%.
DASH coin is trading bullish over the daily chart. In contrast, the coin is recovering from the crucial support zone after experiencing the lowest deep of 2022. The DASH coin can be seen now in a strong uptrend and has been trading in favour of bulls from the last 4 intraday trading sessions. The bulls need to be consistent to prepare the coin for a bullish rally. At the same time, the bears (short-sellers) will try to short the market and take a dip in price.
Since the bears succeeded before in shorting the price of DASH coin dip up to $80, the coin manages to recover from the crucial support zone and is now trying for a bullish reversal by a bullish rally. However, the volume action of the coin can be seen above average and is increasing in favour of bulls. Bears need to wait for any directional change to move further.
Who Does Technical Indicators Favour?
DASH Coin price over the daily chart is trading bullish and recovering from the crucial support zone. The technical Indicators are also favouring the bulls as both showcases the bullish nature of the coin. Moreover, the Bollinger band is about to sign as the candlestick is about to cross the upper band.
Relative Strength Index forecast neutrality of the coin, and the RSI is presently at 58 mark any directional change can be expected at 60.
MACD exhibits the bullish outlook of the coin. The MACD line moves towards 0 to approach the positive zone after a positive crossover. That signifies the expected bullish rally of the coin.
Conclusion
After a bump into the crucial support zone, the DASH coin manages to recover after getting support at $80, and the coin is currently trading bullish. If the coin also manages above the $120 mark, then a bullish rally can be seen up to a respectable resistance level. For the time being, technical indicators also favour bulls and provide the signs of a bullish rally.