Drastic profit bookings due to high profits stopped the strong momentum of the DASH cryptocurrency not just once but twice, and this time it fell nearly 50%. We refer to the autumn of September 7th, 2021. From a high of $ 280 to a low of $ 143, the selling move has decimated any hopes for a near-term retracement. While buyers are looking to test and break the 200 DMA mark and become a trend, the momentum is not in their favor.
DASH is currently ranked 64th and has dropped a lot over the past month. Despite its negative stance, DASH has a net market cap of $ 2.13 billion with 55% liquidity. In addition to its higher efficiency, lower gas and transaction fees, it is a great way to set trends in the days to come.
DASH price analysis
Dash gained some buying sentiment over the past week as it tried to break its $ 200 DMA level of $ 210. Swing resistance has already been broken and trading above $ 210 indicates positive stance.
Dash encountered strong resistance near the $ 200 psychological mark and was rejected twice. Although this time it has tried to reach the same level with the prestigious mood, 200 DMA will cause difficulties for this movement. Immediate resistance will move into a range between $ 210-220, while longer resistance would come around previous highs of $ 270-280.
RSI has taken a detour from an almost oversold asset to a positive looking asset. The rise from the 30s to over 65 indicates the buying rally behind the red and green candles.
We can also see an increase in the volume of transactions over the last three days that coincides with the last three days of the consecutive green movement. As per Dash price prediction, a break below $ 180 can push them back down to around $ 140 support, while breaking the $ 140 support for DASH can be catastrophic.
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