Most cryptocurrencies have been on an uptrend in today's trading sessions; Dash was not the exception. The pair is recovering ground after taking a 31.43% loss in the previous six days.
After almost reaching an oversold status, Dash rebounds, the price is at the 175 levels currently, and it is expected to continue climbing. The Bollinger bands are opening up; the price is traded closer to the lower band, which drives the price.
The relative strength index is recovering from a near oversold status, and its currently at 40%, which will allow the pair to continue climbing for the short term. The price aims to break the resistance level at the 23.6% Fibonacci retracement of 190.399; this will be a big test for Dash as it might struggle to complete the breakout in the short term. A lot will depend on the RSI level once it gets closer to the resistance.
Our parabolic SAR indicator suggests that the downtrend will continue; however, this is a lagging indicator and requires a confirmation candle.
The general trend continues to be downwards as the short and long-term moving averages cross and are moving down.
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