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  • Dash price jumps above $70.00 trade at $72.74 after recovering from the recent low at $68.00.
  • A breakout above the channel support could place DASH/USD in a trajectory towards $100.

Dash price continues to trim the gains accrued in 2020 within the confines of a descending channel. The widespread bearish pressure on the market over the weekend is yet to be ousted. Besides, the minor progress that had been made during the Asian session on Tuesday has been erased barely at the beginning of the European session. Dash price currently teeters at $72.97 and has lost 0.76% of its value on the day.

From a technical perspective, the buyers are in charge but still lack the energy to force a reversal towards 80 or above the channel resistance. The Relative Strength Index (RSI), for instance, is stuck in the oversold after an attempt to climb above 30 failed. On the other hand, the Elliot Wave Oscillator is posting a second bullish session in a row. This confirms that the bulls have more influence compared to the sellers.

However, the price is still trading under the moving averages. The 50 SMA cross below the 100 SMA the 4-hour chart at $121.92 signals that a lower consolidation is possible. Moreover, the moving averages will function as resistance lines in DASH/USD recovery journey towards $100.

Dash price key levels

Spot rate: $72.74

Relative change: 0.8854

Trend: Bearish

Percentage change: -1.25%

Support one: $70.00

Support two: $68.00

Support three: $60.00

Resistance one: $80.00

Resistance two: The 50 SMA at $86.24

Resistance three: $100.00

DASH/USD 4-hour chart

DASH/USD price chart