Today, most cryptocurrencies have improved significantly. However, some coins reflect mixed signals. The Dash coin is also reflecting mixed signals as it hit $ 79 after seeing a more than 6% increase in the past 24 hours. The weeklong movement of DASH / USD also reflects the strong volatility. Despite trading under selling pressure, the coin was able to stay above $ 79, indicating the possibility of an imminent rebound.
Dash price analysis
TradingView’s DASH / USD chart
The Dash price was found at $ 74.59 yesterday and within the next 3 hours the price rose to $ 75.66. After that hike, the coin continued to trade higher, escalating 5.05% to $ 78.89 at 07:05 UTC. Then the currency managed to trade steadily for some time, and later it rose to USD 80.75 at 12:53 UTC.
At 15:30 UTC the DASH price hit $ 82.22 but was rejected and the price dropped to $ 80.06. The next 6 hours saw slight but progressive movement. The one-day movement reflected an 8.94% increase in Dash price.
Today the currency was down slightly in the first hour and the price fell to $ 80.02. However, over the next 1 hour and 27 minutes, the coin marked a rebound, touching the previous resistance of $ 82.24 by 2.80%. As a result, the Dash coin double-toped above $ 82 overnight. Also, at the time this analysis was written, the price fell to $ 79.35.
Currently, DASH is not supported by its moving averages. The SMA 20 & 50 are both trading above the current price. Despite easing pressure, the currency managed to stay above $ 79. Hence, this could reflect a strong rebound in the coming hours. And if the coin trades up, it could be determined to break the next resistance at $ 81.20.