Dash Zoom up by 16% on Monday Post the Collaboration with StakeHound

  • The coin trading at the level of $75.92 gains 15% in the last 24-hours, however, gains 5.88% in the last seven days
  • The coin is in bullish momentum after clearing the resistance of $70.11
  • The volume observed in the last 24-hours is $1,029,596,574 and the market capitalization stands at $743,144,083
dash 01
source: tradingview

Over the monthly chart of DASH, a positive breakout is seen over the 4-hours candlestick chart pattern. The coin forms a descending triangle pattern over the monthly chart and the breakout from it helps the coin for bullish momentum to the level of $73.78. The coin has support at the level of $64.28 over the monthly chart and the resistance for it is $76.85. The coin shows a bullish move from the level of $66.55 and makes a high of $77.90 in the last 24-hours. 

The coin trading at the level of $75.92 and has a minor support at $73.95 while the level of $64.45 act as the major support for the cryotoasset. On the other hand, the level of $76.85 acts as a minor resistance and the strong resistance is $79.80.

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Dash on Monday announced that the deposited tokens on StakeHounds will earn network rewards. The reward system will be integrated with the Dash master node. The news came after the collaboration of Dash and StakeHound that will enable users to access multiple types of decentralized services. Users need to send Dash to StakeHound which then will convert them into StakeDash and ERC-20 token for use.

dash 02
source: tradingview

Relative Strength Index (RSI) indicates the positive momentum in the coin as giving a positive crossover trading at 69.69 RSI level after the news about the cryptoasset.

Commodity Channel Index (CCI) also shows the bullish sign as trading at the level of +110 level.

Resistance : 0.5 FIB ($76.85 ) and 0.618 FIB ($79.80)

Support: 0.382 FIB($73.95) and $64.45

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Pratik Chadhokarhttp://www.thecoinrepublic.com
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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