Dash has been on a downtrend for the last six trading sessions. The pair made a few attempts to recover in two out of the previous eleven sessions but did not succeed.
The Bollinger bands are narrow but slightly starting to open at the edge; if they continue expanding, we would expect higher volatility for the upcoming trading sessions. The price currently trades closer to the lower band, and some investors might think it's relatively low.
The relative strength index continues to fall, and it is at 34%. We believe that the RSI will continue dropping until it reaches 30%, which will signal traders to start placing long positions on the asset. RSI has not been above 45% since May 16th, 2021.
Our parabolic SAR indicator suggests that the price will continue its downtrend; the next support level is at $115.459. It is possible for the price to reach this level, but we don't think it will go any lower since the RSI level is already low and will soon enter an oversold status if the price continues to fall in the short term.
The cryptocurrency has a long way ahead to reach its resistance level at $148.195. If the price starts recovering; from a technical stance, it could take a few weeks before it can hit that resistance level and attempt a breakout.
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