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    Baxia Markets
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    May 25, 2022

    Dash gets close to the resistance at $66.03

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    The cryptocurrency has not seen much action in the last few trading sessions, but quietly, it has been getting closer to the 23.6% Fibonacci retracement level at $66.03. The pair currently trades below the short and long-term moving average, indicating that the downtrend is expected to continue; however, the chance of a resistance breakout is there. 

     

    The Bollinger bands are closing, but they are still wide enough to expect high volatility; the pair might enter a consolidation phase, which we have seen this week across other crypto assets. If the pair managed to break the resistance, it's possible to see the price climb and potentially reverse the trend in the longer term.

     

     

    Dash May 25th 2022

     

    The relative strength index is at 34%, which is very close to the oversold status; this could help incentive investors to buy the crypto at a low rate. Our parabolic SAR indicator suggests that the price will continue to move down. We will keep an eye on the resistance level at $66 as that could indicate price recovery.

     

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