Baxia Markets
June 03, 2021

What would it take for Dash to reach $220?

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Dash has been on a downtrend since May 7th, the same day it hit its highest level in 3 years at $476.5 before it plunged. The cryptocurrency found a low of $109 just 12 sessions after and has not recovered since. The price is still 57.5% down from that high in early May.


The price is up 6.06% today, which is very significant as it managed to break the support level at 196.148 on a general downtrend. 


The Bollinger bands are wide, but they are closing and pointing down, indicating that a downtrend would continue. 


DASH June 2nd 2021


The relative strength index is currently at 43%. It has not moved significantly over the last nine trading sessions where the price moved laterally; this indicates that the markets are uncertain. Both buyers and sellers are fighting to keep the price going in their favor which neutralizes the price movement.


Our parabolic SAR indicator suggests that the downtrend would continue, but If Dash can consolidate a breakout on $196.148, the price could potentially climb to the $220 levels in the short term.


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