DASH Price Analysis: The Suprising rally of Dash in 2020 Likely to Continue

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • Dash has been one of the top-performing cryptocurrency this year
  • It started the year with a price of $41.20 and reached the 30 Day High of $140.70, currently trading at $126.80.

Source: Coin360

The year 2020 has been perfect for DASH with the bullish development which the crypto market is witnessing. Dash started around the price of $41.20 and gradually built the momentum and reached its highest point of the year, which was $140.70. Currently, it is trading at a price of $126 with a gain of 5.88%. The market capitalization is around $1,177,150,619 and the 24H volume traded is $205,214,001.

Dash Price Analysis: Fundamental Aspects

Fundamentally, what makes DASH unique is its ability to send instant transactions with the wait time of only 1.5 seconds. Dash also witnessed a tremendous growth rate for its wallet app.

According to CEO Mark Mason, it has made an increase of 562% from May 2019 to December 2019.

Dash Price Analysis: Technical Aspects

Source: Tradingview.com

On the technical part, Dash had made terrific bullish movements. On 15th January 2020, the coin opened at the price of $88.62 and touched the highest level for 2020, which was $140.70. However, it closed at the price of $132.27, but that doesn’t outshine the capability of this cryptocurrency.

The charts indicate that after making that much impactful bullish momentum, it also has the ability to sustain the pricing element.

Looking at the technical indicators, Stock RSI reflects that there is a stable buying phase going for the currency. The RSI is between 65-70 level, which is also a positive sign. The CCI remains in the overbought zone, which can result in slight price corrections, but the negative divergence can provide the bullish momentum needed.

Resistance Level: $134.50

Support Level: $110.80

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