DASH Spiked Above $100 Briefly; Will it Reclaim Highs?

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DASH, the decentralized project governance masternodes based on privacy for instantly settling the payments and instantly immutable blockchain. However, as the crypto market is pumped with great traction, just when the largest cryptocurrency—Bitcoin spiked above $16k yesterday before the closing of the day, but is currently back to trading below $16k, in his regard, the altcoins experienced a temporary spike as well, wherein DASH with a brief candlewick rose as high as $105 on Coinbase, while currently trades at $75.5 after a clear downward correction.

Moreover, DASH has been one of the lucrative projects amongst the top 30 in the global market, and with this, the platform is hitting all the chords to turn up to be the worthiest payments gateway. As per the recent Dash news reports, Dashpay released a migration report about Dash Core v0.16 (released on September 30) and Spork 21 Activation (planned to launch in the next five days on November 17, 2020).

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DASH Price Analysis

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DASH/USD Chart By TradingView

Today, DASH was seen trading at $75.5 after a bullish brief candlewick breakout above $100 on Coinbase. However, the coin resumed to a flat momentum and trend after breaching the 6-month high in August at $107. Unable to hold the traction, DASH price pulled back with a clear downtrend in the previous quarter, nonetheless, is holding clear support from 50-day and 200-day MA on the daily chart at $68 and $75, respectively.

However, the currency is away from reclaiming YTD high, and above that, it hit at the onset of the year against the greenback. While the MACD indicator drew a clear flattish trend and bearish divergence in August, it turned to a bullish crossover on the daily chart with a brief breakout yesterday.

The RSI is also seen rising from the support towards the overbought region due to the increase in Dash price, leading to spurring demand, which lies at 61.84.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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