Dash continues to rise even after surpassing the 200 EMA!

Dash is a cryptocurrency and payment system that focuses on privacy and speed. It was created in 2014 as a fork of the Bitcoin blockchain. Dash has a two-tier network structure with master nodes that provide governance and additional services such as instant transactions (InstantSend), private transactions (PrivateSend), and decentralized governance (DGBB). Dash aims to offer a more user-friendly and scalable alternative to Bitcoin, focusing on financial privacy and faster transaction speeds.

Dash has a two-tier network structure that includes both regular and master nodes. Masternodes provide governance and additional services to the network and are incentivized through rewards from the block reward. Dash has a decentralized governance system that allows 10% of the block reward to be put into a treasury and used to fund development and other initiatives.

It allows for a sustainable funding model for the network’s continued growth. Moreover, Dash offers optional privacy features such as PrivateSend and ChainLocks, which allow for more secure and private transactions on the network.

Overall, Dash’s tokenomics aims to balance incentivizing network participation, maintaining network security, and funding ongoing development.

Dash overcoming its short-term resistance, has offered this token a resistance-free uptrend till $140. Even weekly candlesticks confirm the next price action-based resistance to be placed above $100. Will DASH surpass $100? Read our Dash prediction to know!

Dash price analysis

Closely assessing the individual candlesticks, we notice a sharp buying spree followed by a 200 EMA breakout. Combining these two reactions with an increased buying volume than normal would propel the Dash token beyond $100 with ease. The support of $38 was instrumental in controlling the freefall of this token.

Since moving up from the November 2022 resistance and decline zones, Dash was trading close to the 100 EMA, which increased with its price action. At the same time, the 200 EMA was posing as resistance since January 14 for over 15 days before making a strong breakout. The breakout pattern strongly indicates higher lows and buying volumes supporting the trend, which is strong enough to halt any profit booking by sellers. 

The technical indicators RSI and MACD offer to confirm the beginning of a new positive trend for Dash. The uptrend breakout confirmed by the MACD indicator is an unusual and strong indication for buyers to participate in this rally. The resistances based on weekly candlesticks would hinder it from moving near the $100 to $140 range.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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