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- DASH price is looking to cross above the threshold of $100 in the near future.
- Technical indicators of DASH price are currently favoring a consolidated trend.It has seen a drop of 0.36% in BTC pair
DASH open source blockchain and cryptocurrency focused on offering cheap global payment services. DASH name was derived from “Digital Cash” and was launched in 2014 as a fork of litecoin. Since the inception DASH has seen a strong development and has two tier networks and master nodes. It was formed by two software developers EVAN and Kyle. It was originally called Xcoin but has been rebranded as DASH. The goal of DASH is to make most user friendly and most scalable cryptocurrency solution across the globe. The maximum number of DASH that can be issued is 18,900,000 and 59% of it is currently circulating in the market. It has seen a strong rise in the past and continue the same in future.
DASH has a market cap of $815 Million and is ranked 64th in cryptoverse. Volume of the asset price has seen a gain of 13% in the intraday session. Volume to market cap ratio of DASH suggests a consolidated trend in price.
Are Bulls Of DASH Looking To Give Up?
The weekly technical chart of DASH suggests a consolidated trend in price. It is currently consolidating but can see a new breakout. On the daily chart it is trading near the value of $73 with a small gain. The upside trend of DASH price can see a halt near the value of $80.Meanwhile a support in the asset price can be seen near $60.It is currently on a strong consolidation zone. If it breaks it a rally beyond $100 can be seen in the near future. DASH price is trading above the 50 and 100 Daily Moving Average. It can see a positive crossover in the asset price which can push the asset price to a new high.
RSI of the DASH is near 62 suggesting its presence in the overbought zone. There is a small downside slope which can push the asset price to a new low in the future.
Conclusion
DASH has always been a interest for the investors for a long time. DASH price is looking to breakout above consolidation. Various analysts are expecting a strong growth of DASH in future.
Technical Levels
Major Support: $60
Major Resistance: $80
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
