Dash Remains Consolidative Between Recent Lows and 100 EMA!

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Dash blockchain attempts to monetize the fundamental capabilities of Bitcoin with improved and better privacy. The code for this blockchain is developed from a fork version for Litecoin, another Bitcoin-based ideology crypto chain.

Since Dash carries a supply of above 18 million tokens, the outlook for this blockchain as a payment token with very less transaction fees is the largest hindrance to its price gain. But on the other hand, its blockchain and governance are thriving from the positive gains made by its blockchain. 

The market capitalization for Dash has dipped close to $508,566,916, but barely 58% of its total supply is available in circulation. The outlook for this blockchain is very promising, but the possibility of its token reaching a Bitcoin-type high is very less since this token is not being projected as a token of storage value.

Dash blockchain is maintaining its slow and steady price movement despite the ups and downs of the wider cryptocurrency industry. The positive outlook for this token has multiple limitations in the form of moving averages that Dash has failed to surpass in recent days. You can learn more about the DASH future price projections by clicking here.

Dash token value has managed to halt its negative progression quickly. Plugging the gaps helped the price consolidate above the immediate support level of $38.4. The resistance has managed to stay strong at $59. RSI indicator has slowly moved into the consolidation status with a level of 46. Still, MACD is showcasing the probability of a huge breakout with the stronger bullish crossover it created today.

The technical outlook for Dash token improved, but the transaction volumes have greatly dipped. On weekly charts, all positive expectations from Dash token have been staggered since the one-week decline wiped out an entire month’s positive buying and battling the profit-hungry sellers.   

Gradually, $59 has emerged as strong resistance to its price action, and based on its revelation, the marginal negative movement of today is justified. However, the RSI and MACD indicators both are projecting a positive stance for the Dash token in the coming days.

Since the 100 EMA curve of Dash lies slightly above the $50 mark, the chances of a positive breakout get shattered with each technical indication. Another strong resistance has developed as the 200 EMA curve at $75. The flexibility offered by the Dash payments network can push its token value slightly above its high of $440 in May 2021.