Technical Analysis of Dash

Dash is a privacy-focused cryptocurrency that was released in early 2014 under the original name of DarkCoin (DRK). The main advantages of this cryptocurrency are low fees, quick confirmation times and a moderate level of anonymity. According to estimates, Dash is one of the cryptocurrencies which you should definitely not ignore and this cryptocurrency might still be undervalued despite all the problems. The positive thing is that lots of partners are already supporting this cryptocurrency and Dash is already connected with various payment programs. It is also important to say that Dash solves two of Bitcoin’s biggest problems: speed of transactions and the lack of privacy. When we look at the 1-year chart we can see that Dash is moving in “downtrend”. As long Dash is below $400 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $90 and $100 – If the Dash jumps above $200 that would be a “BUY” signal and the open way to $300 or even $400. If the Dash jumps above  $400 that could be a strong signal of the trend reversal and the open way to $500. On the other side, if the Dash falls below $90 that will be a strong signal “SELL” signal and the next target could be around $80.

Advice: All major cryptocurrency have advanced in the last several weeks but despite this, the cryptocurrency market is still under the pressure and for now, the “bearish” trend remains intact. The price of Dash is still under the pressure and for now, we can not see the “light” at the end of the tunnel. In my opinion, this is still very risky cryptocurrency but Dash can be a very good investment option and some predictions say that this cryptocurrency could be above $1 000 in the next several years. As for the technical picture, the Dash remains in bearish phase but if the price advances above $200 next targets could be located around $280 and $300.