DASH Price Analysis: The Bears Have Taken Control of the Market Pushing the Bulls Out of Steam

Today, Dash started the day trading in red following Tuesday’s price reversal that left the market in the hands of the bears. Dash must go above the $230 level for the decline to stop. Following the 4.97% loss in price the cryptocurrency suffered on Tuesday which rendered the 1.53% gains on Monday useless, Dash ended up trading in red at $228.8.

Dash Price Analysis for June 28

During the mid-morning trading session, Dash got to an intraday high of $241.52 falling below the significant resistance level of $245.9. It went below the 23.6% fib level of the last rise to $301.22. There was a sell-off for the rest of the day and dash ended up sliding below the first significant support level at $235.5 and the second at $230.3 all the way to the intraday low of $227.03 after which it attempted a partial recovery.

Dash (DASH) Price Today / USD

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The market sell-off this morning pushed the trading pair to fall below the first and second support levels but not below the third support level of $219.92. This was a positive sign and by the end of the day, the cryptocurrency had failed to break back above the second support level of $230.29. This was a sure sign of a bearish take over.

At the time this piece was written, the cryptocurrency was down by 1.52% trading at $226.049 and made an early move through the $230 level. It fell short of the $237.87 resistance level. During the mid-morning trading session, there was a price pullback that led the cryptocurrency to a $225.888 low although it didn’t go as low as the major support level of $223.38.

A move above the $232.45 level will make the coin face major resistance at $237.87. Most of the resistance will be at $230. The coin might fall to $223.38 if it fails to make it above the $232.45 level. The next few trading sessions will determine if the bulls will gain momentum or the bears will continue to dominate the market.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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