Technical Analysis of Dash

The cryptocurrency market has posted a minor recovery at the beginning of this trading week but the negative trend is still strong. In less than several hours, the price of Dash has advanced from $77 above $86 and the current price stands around $85. 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. It is also important to say that Dash solves two of Bitcoin’s biggest problems: speed of transactions and the lack of privacy. 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. 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 $80 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 $80 that will be a strong signal “SELL” signal and the next target could be around $70.

Advice: 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. 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. On the other side, if the Dash falls below $80 that will be a strong signal “SELL” signal and the next target could be around $70.



About Stanko 84 Articles
I am a professional forex, cryptocurrency and stock trader looking for more opportunities to penetrate the field. Writing, research, analysis, are all things I enjoy doing aside from the core trading practice as they provide a deeper perspective of market activity. I am well versed in technical analysis as well as sentiment behavior. I have 10 years experience in stock and currency markets ( analysis and trading), I am also an experienced cryptocurrency analyst. I have been writing business, finance, stock articles for over five years. My biggest strength is in technical analysis

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