- The coin has gained nearly 9% in recent 24 hours.
- Broken DMA200 creates a bullish technical setup.
Dash gained over 9% in recent 24 hours and became one of the market leader. With the market value of $932M and an average daily trading volume of $296M, DASH now takes the14th place in the global cryptocurrency rating. At the time of writing, DASH/USD is changing hands at $116.0, off the recent high of $118.94.
DASH experienced a strong but short-lived growth during early Asian hours on Monday. However, despite a retracement, it settled above DMA200, which is a bullish signal.
If the growth proves to be sustainable, only sky is the limit for DASH. The coin may be well positioned to test critical weekly SMA200 currently at $177.17. The long-term bullish scenario is confirmed by an upward-looking RSI on a weekly chart.
However, the coin has entered an overbought territory and may be ripe for a short-term correction with the first aim at the above-said DMA200 at $111.83 followed by psychological $100.00, and the middle line of daily Bollinger Band at $95.00. Once this barrier is cleared, the downside may will be extended towards $80.00 guarded by DMA100.
DASH/USD, 1D chart
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