DASH Technical Analysis: Bullish Pattern Clears Out Bearish Clouds

DASH prices sustain above the psychological mark of $50 with a double bottom pattern. Will buyers manage to break above the neckline to reach $85? Key technical points: DASH price forms a double bottom pattern with a neckline at $63. The RSI values surpass the 14-day average. The 24-hour trading volume of Dash is $144 Million, indicating a rise of 25%. Past Performance of DASH The DASH/USD technical chart shows an uncontrollable bearish trend after the breakout of the $85 mark. However, the psychological mark of $50 helped sustain the downfall and end the downtrend with a double bottom pattern forming during the consolidation at the demand zone. Source-Tradingview DASH Technical Analysis The recent surge in buying pressure inflates the DASH market value by 8.61% in the last 24 hours and challenges the neckline at $63. Hence, the neckline breakout will illuminate a buying spot and increase the number of breakout traders going long. The long-term downtrend of the last few months has led the EMAs to achieve an inverse alignment with the 50 EMA, which provided the dynamic resistance. But, the recent rally is breaking the opposition and more evidence for the reversal idea. The RSI rises above the oversold line to reach the overbought area after a long consolidating movement. Additionally, the increase in the underlying bullishness is greater than even the 14-day SMA line, increasing the probability of a breakout bullish. The Stocha...