Technical Price Analysis of DASH Oct.23th

Dash is a cryptocurrency that burst into the crypto scene in January 2014.

Since the onset, it has been meant to take an unlikely path like Ethereum and Stratis that focus on developing new platforms. DASH defines its role as being a peer-to-peer decentralized electronic cash that continues to adopt the feature of being liquid like real cash that is being used in various countries. At the time of its formation and coming down to the present age, DASH remains an open source that operates its own blockchain, personal wallet system and unique community. In the current period, DASH cannot be said to be doing so great as it has been encountering a steady fall ever since it peaked at $1200 in 2017. Within a few days, it had jumped down to about $750 and while investors expressed a growing hope that the market price will surge, it has continued to drop at an astronomical rate.

When the price was still high in 2017, DASH was regarded as the seventh biggest coin but it has slipped to a lower position in the top 30 at the moment.

Currently in the month of October, the price of DASH has been hovering dangerously between $150-155 and the price continues to drop.

Most analysts have predicted a kind of continued downfall of the currency to a region of $100. This means that the strong signal that the current trend is sending is ‘SELL’. However, we should continue to observe if there would be any form of rise above the $200 mark. When this happens, it is safe to say that the market price is gaining and it indicates a strong indication to ‘BUY’.

On a general note, 2018 has certainly not been the year for cryptocurrencies as many have experience incredible drops from 2017 highs. Nevertheless, we are looking forward to seeing the direction that the DASH team has for the Cryptocurrency.


As you can see from this chart, there is a great signal to “Sell” as it continues to plummet

 

About kota 28 Articles
Master's student in Estonia studying mechanical engineering. Cryptocurrency, Mining, Masternode running, IoT Technology.

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