Dash is very close to consolidating the breakout of the $196.148 level situated in our 23.6% Fibonacci retracement. The price is up 5.26% so far today and it could begin an uptrend very soon. The Bollinger bands are extremely wide, which indicate high volatility for the short term. Our relative strength index is rising and sits at 40%, allowing the pair to prepare an uptrend as buyers are becoming more interested in the asset.
The short and long term moving averages crossed in yesterday's session which is an indicator of a downtrend, however, these are lagging indicators, the same also occurs with the parabolic SAR.
Dash has been mimicking the movements of Bitcoin in the last few days. There are other fundamental factors that are affecting the price of most cryptocurrencies in the market but based merely on technical analysis we could see the price start climbing very soon.
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