Today, most of the cryptocurrencies marked substantial improvement. However, some coins reflect mixed signals. Dash coin is also reflecting mixed signals as it hit $79 after registering more than a 6% hike over the last 24 hours. The week-long movement of DASH/USD also reflects hefty volatility. Although the coin trades under selling pressure, it managed to stay above $79, which shows the possibility of upcoming recovery.
Dash Price Analysis
Dash price was spotted at $74.59 yesterday, and within the next 3 hours, the price escalated to $75.66. After this hike, the coin continued to trade upwards and escalated to $78.89 by 5.05% hike at 07:05 UTC. Then, the currency managed to trade stably for some time, and later, it spiked to $80.75 at 12:53 UTC.
At 15:30 UTC, DASH price touched $82.22, but it faced rejection, and the price fell to $80.06. The next 6 hours experienced mild yet progressive movement. The day-long movement reflected an 8.94% progression in the price of Dash.
Today, the currency faced a slight fall in the initial hour, and the price fell to $80.02. However, in the next 1 hour and 27 mins, the coin marked recovery and touched previous resistance $82.24 by 2.80% hike. Hence, the Dash coin formed a double-top above $82 overnight. Further, the price dropped to $79.35 at the time of writing this analysis.
Currently, DASH lacks support from its moving averages. Its SMA 20 & 50, both trades above the current price. Despite the bearish pressure, the currency managed to stay above $79; hence, it might reflect a strong recovery in the upcoming hours. And if the coin trades upwards, then it could be spotted breaching the next resistance at $81.20. For more Dash Price Forecast, you can check out our forecast section.
