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  • Dash lost more than 28% of its value since the beginning of August.
  • Current technical levels suggest that sideways trading will dominate the incoming sessions.

For two days in row, Dash has posted losses. The downtrend occurred following a failed attempt to clear the trendline resistance. Also limiting the upward movements was the 50 Simple Moving Average (SMA) 4-hour.

Looking back at the performance of the cryptocurrency in August, we can say Dash has lost a great deal of its value in just a month; roughly 28.5%. However, the bearish momentum in the last week of August found balance $78. This level is functioning as a short-term bottom which is also forming the foundation of the ongoing recovery.

The extended bear action on Thursday breached the bearish flag pattern but bulls did their best to push the price above the 50 SMA. The Moving Average Convergence Divergence (MACD) ranging trend at the mean line (0.000) hints sideways trading in the near-term. The Strength Index (RSI) doubles down on the sideways trend by leveling at the average (50).

DASH/USD 4-hour chart