- Dash extended the price action above $74 amid broad-based cryptocurrency recovery.
- Prevailing technical picture suggests that bears could soon force a reversal below $60.
Dash bulls are intent on pushing gains higher on the day following an incredible bullish wave on Monday. While other cryptos retreat, from the weekly highs, Dash has extended the action above $74. An intraday high has been formed at $74.15, although DASH/USD is adjusting the current price around $73.33.
The simple moving averages (SMA) contributed to pushing the price during the recovery. Both the 100 SMA on the one-hour chart and the 50 SMA will also offer support in the event declines occur from the current levels. Other support areas to look out for include $71, $69 and the vital support zone at $67 – $68.
The relative strength index (RSI) is struggling to stay above 70 but its retreat will signal the beginning of a reversal. The moving average convergence divergence (MACD) has stayed above the zero line but the forming negative divergence suggests bearish pressure is building.
DASH/USD one-hour chart
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