Dash Price Surges 10% In A Single Week; Is A Bullish Momentum Forming?

Digital Cash, popularly known as DASH, has been on a remarkable spring, reaching today’s top gainers. The cryptocurrency is on a good streak, with its value jumping by 5% in the past 24 hours. 

Dash Surges Over 10% In A Single Week – Price Overview

The price of DASH soared by more than 10% in the past week. As of this writing, the token is valued at $32.08, gaining over 5% in the past 24 hours, per CoinGecko data. Meanwhile, it boasts a daily trading volume of nearly $45 million. 

However, a broader look at the market shows that the price of DASH has barely made it out of consolidation in the past 10 days. This is following the almost-vertical price dip earlier this month, which saw the token lose nearly 26% of its value.

DASH, a scalable payment network, has had a mixed first half of the year. On the 28th of February, the cryptocurrency’s price reached a crest of $74.26. The token has been on a downtrend since March, recording a 56.8% price decline.

Although the current price rally of DASH is a bit encouraging, it would take an extraordinary run for the token to return to its peak from earlier this year. 

Is Bullish Momentum Building for Dash?

As DASH continues gaining momentum and captivates the crypto community’s attention, many investors wonder if the token could attain the heights reached earlier this year. 

Based on DASH’s 24-hour chart, RSI (Relative Strength Index) has just crossed above 36, indicating that a bullish run may be on the horizon. Meanwhile, the token’s Moving average convergence/divergence (MACD) has just crossed above the signal line below the baseline, indicating a strong bullish signal. 

According to the price prediction site, Coincodex, the current investor sentiment surrounding the DASH token remains bearish, with a neutral Fear & Greed Index of 49.

Coincodex predicts DASH to plummet by 6.53% in the next five days, falling to $29.69. However, they project the token to make a recovery trading as high as $35.12 later in one month.

Notwithstanding, investors are advised to approach the market cautiously, having done their due diligence.