The DASH / USD pair has been trapped in a period of price consolidation since October 27th, after quickly recovering from the $57.00 level. On a monthly basis the cryptocurrency is almost completely flat, trading down around ten percent from its yearly opening price.
Both the four-hour time frame and daily time frame indicate that the DASH / USD pair has solid upside potential if traders starts can rally the cryptocurrency above the $76.50 level.
The four-hour time frame shows that a breakout above the $76.50 level would ignite a inverted pattern that could help the DASH / USD pair soar in value towards the $100.00 level.
According to the size of the pattern, the DASH / USD would add roughly 38% to its value if the breakout occurred. At present, its 50-day moving average is capping upside gains around the $73.00 level.
The daily time frame highlights the $113.00 level as the medium-term upside objective if a breakout finally occurs over the coming days and weeks.
Longer-term rising trendline resistance and the DASH / USD pair’s 200-day moving average are both converging around the $113.00 level, making it the most likely upside target if a rally above the $100.00 level occurs.
With green shoots spreading through the broader crypto market it is highly probable that a rally will be forthcoming if buyers can force price above the $76.50 level.
According to the latest sentiment data from TheTIE. , the short-term sentiment towards Dash is , at 61.00 %, while the overall long-term sentiment towards the cryptocurrency is very , at 21.00%.
DASH / USD by TradingView
The four-hour time frame shows that a large inverted pattern has formed, with the $76.50 level acting as the neckline of the .
Key technical resistance above the is currently located at the $84.00 and the $95.00 levels. Medium-term resistance for the DASH / USD pair is found at the $113.00 and $120.00 levels.
The four-hour time frame is showing that the DASH / USD pair’s 200-period moving average is providing the strongest form of short-term technical support, around the $70.00 level.
The daily time frame shows that a break below the $65.00 level would be extremely for the DASH / USD pair and could expose a possible decline towards the $58.00 level.
The DASH / USD pair needs to make a sustained advance above the $76.50 level in order to prompt a technical rally that could eventually push the cryptocurrency back towards the $113.00 .
Short-term bulls now need to take the lead and break the cryptocurrency away from the recent period of sideways trading action.