- Dash bears are nurturing a downtrend following a rejection at $100.
- Massive losses will come into the picture if DASH/USD closes the day under the 200 SMA.
Dash is succumbing to bearish pressure like other altcoins in the market. The increase in sell orders comes after Dash recently hit a snag at $100. As the bearish grip becomes more vigorous, Dash is unlikely to find support at $90 and, therefore, it may extend to $85.
Dash breakdown awaits confirmation at this crucial level
Declines could gain momentum if Dash closes the day under the 200 Simple Moving Average. The 50 SMA limits movement on the upside in addition to the descending parallel channel’s upper boundary.
Support is envisaged at the middle boundary and $90. However, if the sellers gain momentum, the price could overshoot to the next critical support at $85. The bearish outlook has been validated by the Relative Strength Index’s downward slope under the midline.
DASH/USD 4-hour chart
On the other hand, a reversal towards $100 will come back into the picture if DASH holds above the 200 SMA. A break past the channel’s upper trendline could send the digital asset significant past $100. It is essential to note that the 100 SMA may delay recovery marginally above $100, but DASH/USD will potentially hit November high at $120.