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DASH Technical Analysis: Price Is Above the Fibonacci Pivot Point of $318.94

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Dash is a blockchain network that processes digital money transactions instantly and at lower transaction fees. Users can execute cryptocurrency transactions across borders anytime, anywhere using the Dash network. DASH is the prime utility token of this network that is being readily accepted by more and more businesses worldwide. DASH technical analysis is as follows:

Past Performance

On April 14, 2021, DASH started trading at $293.40. On April 20, 2021, DASH closed at $317.15. Thus, in the past week, the price has surged by approximately 8%. In the last 24 hours, DASH has traded between $311.18-$328.48.

DASH Price Analysis

Day-Ahead and Tomorrow

Currently, DASH is trading at $321.02. A couple of hours back, DASH was trading at $317.15. Thus, the market seems to be uptick.

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Both the MACD and signal lines are negative. But, both the lines are very close to the zero line and may turn positive soon. Moreover, a bullish crossover by the MACD line over the signal line has occurred. This implies that the market momentum is likely to turn bullish soon. Hence, we can expect a price rise, but an intermittent price pullback cannot be ruled out as of now.

The OBV indicator is steadily falling. Currently, it shows a tussle between selling and buying pressures. We have to wait and watch to see how the OBV indicator behaves in some time. As of now, the price may struggle to go up.

The RSI indicator is currently at 47%. It faced rejection at 44%. Thus, selling pressures are high but buying pressures are slowly building. In conjunction with the other two oscillators, the RSI indicator too is pointing towards a price rise but with intermittent price pullbacks.

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DASH Technical Analysis

As per technical analysis, presently, the price is above the Fibonacci pivot point of $318.94. If the price surpasses the first Fibonacci pivot resistance level of $325.54 in some time, then probably the bullish trend is strong enough to sustain throughout the day.

The price has tested and broken out of the 61.8% FIB retracement level of $321.87. It may break out of the 76.4% FIB retracement level of $324.40 in some time. Thus, as of now, the bulls look strong. So, we can expect the price upswing to continue today and tomorrow with temporary price pullbacks.

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