Dash price analysis: DASH/USD drifts lower amid slow market
|- Dash has been controlled by bears since the beginning of the previous week.
- The critical support is created by the the area on approach to $66.00.
Dash has been losing ground since November 11. Now the 22nd largest digital asset with the current market value of $626 million, DASH/USD is changing hands at $67.67, down over 4% on a week-to-week basis. DASH has an average daily trading volume of $330 million. It is most actively traded against BTC on P2PB2B.
DASH's technical picture
DASH/USD has been moving in a tight range limited by $67.00-$67.20 on the downside and $68.00 on the upside. The support area is created by the lower line of 4-hour Bollinger Band, while the upper boundary of the above-mentioned area is strengthened by the middle line of 4-hour Bollinger Band. Once it is out of the way, the upside is likely to gain traction with the next focus on $68.68 (the upper line of 4-hour Bollinger Band) and $69.20 (SMA50 (Simple Moving Average) 4-hour).
On the downside, we will need to see a sustainable move below $67.00 for the sell-off to gain traction. The next support is created by $66.70 (November 15 low and the lower line of the Bollinger Band) and psychological $66.00.
DASH/USD, 4-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.