Dash Price Analysis – DASH/USD
Dash is an open source cryptocurrency and is a form of a decentralized autonomous organization run by a subset of users, called “master nodes”. It is an altcoin that was forked from the Bitcoin protocol. The currency permits fast transactions that can be untraceable.
The 15th largest cryptocurrency – Dash (DASH) having its current market cap stands at the level of $629,707,509 (10:08 UTC) on January 11 dipped in current value by 27.9% compared to December 20 as analyzed from the graph above. The significant fall in value due to the strong bearish pressure and competitive forces from around the world. Amid this, the DASH/USD pair remained ‘uptrend’ from December 18 to December 26 as interpreted from the graph above which signifies the bullish trend.
Amid this, the DASH/USD pair gained in value dramatically by 24.7% compared to December 14 which can well be analyzed from the graph above, which elaborates that the bullish trend may expect to accelerate soon!
While both moving averages are falling like a stone by creating the downward pressure over the value as interpreted through the line in the graph above. Since current value trades below the 20-day EMA, which signifies ‘downtrend’ in value. The DASH shows that the bears have the upper hands as the DASH/USD pair remains in bearish trends for some time until the next “uptrend” takes place.
Those that would like to create a long position are requested to remain on the sideline for the time being until the next ‘uptrend’ takes place.
Now let me walk you through certain milestone that this cryptocurrency attained in the recent past. The DASH/USD pair remained range bound from September 05 to September 21 last year, as the cryptocurrency rallied from a low of $173 to a high of $218 which is a 26 percent return within sixteen days.
A more about the company as follows:
Dash’s core is a unique fully-incentivized peer-to-peer network where miners are rewarded for securing the blockchain and master nodes are rewarded for validating, storing and serving the blockchain to users. The entire story is not confined up to here, and the Master node represents a new layer of network servers that work in highly secure clusters called quorums to provide a variety of decentralized services, like instant transactions, privacy, and governance, while eliminating the threat of low-cost network attacks. Dash Evolution will enable you to sign up and access your Dash from any device and transact as efficiently as you can with PayPal, but in a fully decentralized way.
Now, let me walk you through the trading moment of Price, and Market Cap of DASH as follows:
As we can quickly analyze from the graph above that the MCap stands at MCap $629,707,509 (10:08 UTC) with the blue trend line, and Price (BTC) 0.02009771 through orange trend line with 24h Volume 113,988,582 USD (10:11 UTC) can be interpreted from the graph above. The price traded at the all-time highest on January 10 compared to MCap, and since then it continuously traded above the MCap till now. However, the trading pattern looks upwards and may expect to offer the desired outcome.
While we can estimate from the first graph, if bulls succeed in rising and sustaining above the current resistance level $74.21 (10:27 UTC) and create “uptrend” in value (i.e., traded above the EMA) the investors will start buying this currency more and more thereby increasing its value. It seems that this altcoin will soon start trading beyond the 20-day EMA thus creating the bullish pattern and may remain for some time. However, based on the current trend, the next support level could be $76.
Please feel free to visit https://www.dash.org/ to know more about this cryptocurrency!