DASH price has been trapped between $60 and $90

Jun 17, 2020 at 11:12 // News
Coin Idol
DASH price has been trapped

DASH price has been trapped between $60 and $90 price levels since April. For the past month, buyers have been making attempts to break the $80 resistance but to no avail.

After two unsuccessful attempts to break the resistance, DASH resumed consolidation below the resistance. On June 11, most of the altcoins had a breakdown as price dropped to $72 low. The price corrected upward but after a retest at $74, DASH found support above $70. Presently, DASH is trading at $72 at the time of writing. On the upside, if the bulls break the $74 and $78 resistance levels, the bulls will retest the $82 overhead resistance. 

DASH indicator reading  

The price bars of DASH are below the EMAs. Altcoins will rise once the price bars are above EMAs. In this case, the upward move is doubtful. However, the coin is above the 25 % range of the daily stochastic. This implies that the crypto is likely to rise as it is in a bullish momentum. 

DASH price.png

Key Resistance Zones: $100, $140, $180 

Key Support Zones: $80, $60, $40   

What is the next direction for DASH? 

DASH is currently trading in the bearish trend zone. The price action is characterized by small body candlesticks. These candlesticks describe the indecision between buyers and sellers about the direction of the market. The 12-day and 26-day EMAs are sloping horizontally indicating that the market is consolidating. 

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.

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