Dash Price Key Highlights
- Dash price after the monstrous decline started a consolidation phase and trading in a range.
- A bearish trend line is formed, which if broken might call for an upside move in the near term.
- The chance of a move higher is increasing as sellers look exhausted.
Dash price might spike higher once the consolidation period is over, but buyers need to get aggressive for the same.
As highlighted in one of the recent posts, there was a major decline in the Dash price. However, the downside was stalled around 0.0111BTC after which the price started to trade in a range. There is a bearish trend line formed on the hourly chart, which is positioned with the 100 hourly simple moving average. In short, there is a monster barrier forming for buyers in the form of trend line and 100 SMA confluence area. Moreover, the 38.2% Fib retracement level of the last drop from 0.0128BTC to 0.0111BTC is also aligned with the 100 SMA.
If buyers manage to clear the 100 SMA, and the price settles above it