RATE Group | DASH/USD breakout leads cryptocurrency recovery
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DASH/USD breakout leads cryptocurrency recovery

02 Dec DASH/USD breakout leads cryptocurrency recovery

Posted at 05:01h in Cryptocurrency News by

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  • 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.

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…

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