- DASH/USD has chosen to remain solid above the support at $80.
- Dash is outperforming most of the major cryptocurrencies by showing bullish prowess.
- Technical indicators suggestion higher consolidation for Dash before the next rally to $100.
Dash is the bull among a sloth of bears on Monday. While the majority of cryptocurrencies are extending the weekend losses into the new week, DASH/USD has chosen to remain solid above the support at $80.
The price action started on Friday impressively zoomed above $80 and approached $90. However, $90 remains untested after Dash formed a high at $88.77.
Dash exchanges hands at $88.20 at press time while the immediate support is provided by the trendline. Besides, the price above the simple moving averages: the 50 SMA 1-hour currently at $85.326 and the 100 SMA 1-hour currently at $83.13. The primary support is the zone from $78 – $80.00.
From a technical perspective, Dash is sliding into a ranging trend. The Relative Strength Index holding position at 65. A visible gradual slope means that the buyers have more influence on the price. If Dash manages to clear $90 level resistance, correct to $100 will be apparent. For now, establishing support above $88 should be on the buyers’ priority basket.
DASH/USD 1-hour chart
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