Dash (DASH) Price Analysis: It Seems To Be A Year Of Glory For Dash And Its Stability

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Formerly Known as ‘Darkcoin,’ Dash (DASH) is just an alternative to cash in the digital transactions. And similar to cash transactions, the anonymity of the transaction and users is the unique selling point of Dash. Moreover, payments in Dash chips are private and cannot be tracked along with balance sheet. The anonymity of users is maintained by the use of a state-of-the-art technology called InstaX. Dash transactions are very much similar to Bitcoins with an added layer of security and obscurity due to the presence of InstaX. Another feature of Dash (DASH) is a core network of servers called Masternodes. Transactions in Bitcoins take a longer amount of time because of the need for confirmation and other proof-of-work requirements; however, in case of Dash transactions, time is significantly reduced because of the Masternode.

Dash According to coinmarketcap.com, on April 24, at UTC 08:44, Dash (DASH) was trading at 117.44 USD. With Return on Investment (ROI) rate of more than 9000%, Dash (DASH) is currently at rank 13th position in the cryptocurrency market having a total market capitalization of 1,029,590,711 USD. In comparison to BTC, it is valued at 0.02154701 per coin. The trading volume of Dash (DASH) for last 24-hours was approximately 326,399,704 USD. On March 30, it was trading around $ 99.98, and in last 25-days, Dash’s price has gone up significantly, and today it is trading with a jump off of 17.5%.

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If one looks at the historical ups and downs in the price of Dash (DASH), it hit the top of the Bollinger Chart on December 20, 2017, and traded at 1,642.22 USD. And dropped to the lowest level just a month after its release on February 14, 2014, at a level of 0.213899 USD. Yesterday, it traded between the range of 125.10 USD and 118.65 USD. While the trading in Dash (DASH) yesterday started at a higher note and was priced at 122.72 USD, in the intraday trading its value declined and closed the day at 118.74 USD with a cumulative loss of 3.98 USD (-3.24%). It’s trading volume for yesterday was of 295,558,405 USD.

Dash (DASH) Prediction:

Not to forget that there is an upper limit in the total number of supply of DASH coins and that is 22 million, which makes it a stable as well as a deflationary currency. The short and medium-term trends for Dash seem to be bullish. Unlike various cryptocurrencies whose value has reduced after a sudden jerk, Dash (DASH) has maintained its stability because of Masternode and treasury component. For medium-term investors, there is a resistance level at $140, $150 and $160. Additionally, DASH has support levels at $130, $125 and $120 for the medium term. Talking about the short term resistance, it is at $125, and all the indicators suggest that it is the optimum time for buying. And for long term investors, overall asset value seems to be bullish for DASH throughout most of 2019.

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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