- Dash breaks the descending trendline resistance amid renewed bullish strength.
- DASH/USD gains 1.16% in a bear dominated cryptocurrency market.
Dash bulls have been intentional in their quest for recovery, possibly hunting for a better close to year. After finding support at $48 following the declines in November, Dash recovered to highs above $62. However, the bulls started to lose ground toward the end of the month. Another low was formed at $52.61, giving way to the ongoing recovery.
With the trendline resistance in the rear view, Dash is struggling to clear the resistance at the 100 SMA on the 1-hour chart. The 50 SMA at $54.63 will also hinder growth ahead of the hurdles at $56 and $62.resistancechart
The RSI recently came into contact with the oversold at 30. The indicator has significantly recovered above the average and sits at 53.48. Looking at the MACD, Dash has a bullish advantage. If the MACD crosses above the mean line, Dash could acquire the momentum to correct above the resistance at $56.