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.

DASHUSD trading at $31.73 | Source: DASHUSD chart from TradingView

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.