The cryptocurrency world continues struggling and Dash sinks to the 80s level, something we had not seen since Nov 2020. The moving averages are left behind, indicating that the downtrend would continue, Our parabolic SAR strengthens this short signal, but we would have to wait and see how the pair behaves in the upcoming sessions.
The Bollinger bands are very wide and the lower band opened up way more aggressively, indicating that the downtrend would continue in the short term, the price might have found support at $80.67, the pair trades closer to the lower band, suggesting that the price is relatively low, which could incentivize investors to place long positions.
The relative strength index is at 25% which is oversold, the pair has not stayed oversold for many sessions in the past, which makes us think that the pair is likely to start a recovery in the short term, this RSI level will allow the price to climb freely in the short and mid-term.
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