- Dash leads recovery on Tuesday after breaking the key trendline resistance.
- DASH/USD is comfortably in the hands of the bulls; ready for action above $80.
The cryptocurrency market is mixed red and green on Wednesday during the Asian session. Dash is among the cryptoasset in the green, after advancing higher 1.20% on the day. Major digital assets such as Bitcoin, Ethereum, and Ripple are struggling to detangle from the bearish grip. Bitcoin, in particular, has its price action limited under $10,000. The longer Bitcoin stays under this critical zone, the stronger the sellers become which means there is a possibility of a nosedive in the near future.
Meanwhile, Dash is teetering at $78.05 after extending the bullish leg from $77.07 (opening value). Its existing trend is bullish amid expanding volatility. In other words, Dash bulls are in the driver seat and working hard to break the next short term hurdle at $80.
From a technical perspective, Dash is indeed in the hands of the bulls. The RSI is gradually reaching towards the overbought. The bullish strength is also emphasized by the MACD, currently sitting in the positive territory. If the technical picture remains intact, it is only a matter of time before Dash extends the price above the key trendline resistance. Another technical breakout is expected past the 50% Fibo likely to catapult DASH/USD towards the $90 level.
DASH/USD 4-hour chart
Share
