Dash is an open-source decentralized cryptocurrency that offers fast and secure transactions to its users. DASH was launched in 2014 as a fork of Litecoin by EVAN and KYLE. The name Dash is derived from “digital cash,” with the goal to be the most user-friendly crypto for their users. DASH uses a two-tier network to secure its transactions. DASH governance system distributes 10% of their block rewards to the development of the projects. DASH price correlation with the BTC has reached 0.68 and has been increasing for the past few weeks. Meanwhile, it has seen 4 TXNS previously which were greater than $100k.DASH has seen a strong inflow in exchanges which was worth around $ 15.47 million. The maximum number of DASH which can be issued is 18,900,000. Meanwhile, 59% of the total supply is currently circulating in the market.
DASH has a market cap of $637,699,499 and is ranked 74th in the crypto-verse. The volume of the asset price has seen a decline of 10% in the intraday session. Volume to market cap ratio of DASH hints towards a consolidated trend in price.
DASH Bears Continues To Push The Price
The weekly technical chart of the DASH hints towards a consolidated trend in price.It has been observing a weak consolidated trend in price. On the daily chart, it is trading near the value of $56.92 with a small drop in the intraday session. Resistance of the DASH can be observed near the value of $80.Meanwhile, the support of the asset price can be seen near $40.It is trading below the 50 and 100 Daily Moving Averages.DASH price has seen a bearish crossover from the 50 DMA which can push the asset price down.
MACD of the DASH signals a bearish momentum in price. The Histogram of the DASH hints towards a consolidated momentum in price.
Conclusion
DASH correlation with the BTC is currently increasing and has reached 0.68.Various analysts are expecting a strong growth in asset price.
Technical Levels
Major Support:$45
Major Resistance:$80
