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AltcoinPrice Analysis

Dash (DASH): Price Analysis, Nov. 21

Dash is an open source cryptocurrency and is a form of a decentralized autonomous organization run by a subset of users, called “masternodes.” It is an altcoin that was forked from the Bitcoin protocol. The currency permits fast transactions that can be untraceable. The DASH/USD pair had seen its value entirely slashed from the all-time high on 18th February when it was soaring at the level of $746.3080 and then plummeted which can be analyzed from the following diagram.

DASH/USD

While attaining at the12th rank with the market cap stands at $902,843,556, valued at $106.77 by CoinMarketCap on 21st November 2018, 10:25 am IST. The DASH/USD has seen downtrend from mid-February until April, and after that, it started gaining its momentum and soared at $530.00186 on 25th April however above the moving average. The peak level in April at which this currency being observed between blue and indigo horizontal trends line. From April, the currency has been experiencing a downwards pressure under the selling due to the volatile market environment. Amid this, on 1st August it traded at $253.825, and eventually, it slashed a little bit the level of $184.29822 on 1st November. Having been at the highest peak level in the mid of February, this pair declined by 75.30% until on 1st November. Those have heavily invested into this cryptocurrency are recommended to hold “wait and watch” approach to gain long-term profitability. Due to the volatile nature of the market where the crypto major – Bitcoin has already experienced the downgraded trend, needless to say, that most of the currencies may expect to follow the same journey. Last but not least, one has to wait till the next uptrend comes into play which may be expected early next year.

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Shalin Soni

Shalin joined CryptoNewsZ as Associate Finance (Cryptocurrency Research & Analysis) in 2018 and has 10 years of collective experience to work on financial modeling and financial planning & analysis activities (fp&a) domains. He has worked with various organizations in India and added values by leveraging his skills and expertise. He has strong domain expertise in research & analysis, valuation, and fp&a!! You can also mail him at [email protected] to discuss anything related to his reports.

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