Dash (DASH) Slips Below $40; Marks a Fresh 52-week Low

DASH coin trades at the lowest of the 52 weeks below $40. There seems to be zero possibility of a comeback any soon as the trend is utterly bearish. Dash/USD lacks support from the daily moving averages and is surrounded by selling pressure as well. This price hit below $40 has taken the coin to draw a declining trend for the upcoming days as well.

Bulls for DASH seem to be left way behind as the currency lacks momentum to have a persistent trade. A relief rally for the investors seems to be an outrageous thought at present.

Dash Price Analysis

Analyzing the four hourly Dash/USD price trends on Kraken, we see that the coin has been on a constant downslide. The immediate rising wedge formation of a DASH price trend was noticed in the past ten days, which seems to be had been hit by the downtrend. Just like the major altcoins are facing the bear pressure, DASH is one amongst the lot.

The constant pullbacks have led the coin to slip under the ultimate bearish zone as the coin exhibits no signs for a possible uptrend. The inactive supports can lead the coin to bottom out even lower and the technical analysis confirm the same.

The MACD of DASH is running below zero with a bearish outlook as the signal line cuts the MACD line from below.

Also, the RSI of the coin is at 20.45 and highlights the ultimate oversold region below 30.