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.

Tanya Abrosimova Independent Analyst

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.