Dash Price Analysis – DASH/USD

The 15th largest cryptocurrency – Dash with its current market cap stands at the level of $610,961,871 (08:05 UTC) on January 16 dropped in current value by 30.68% compared to December 20 as analyzed from the graph above. Let us not forget that the significant fall in value due to the strong bearish pressure and competitive forces from around the world. Amid this, the DASH/USD pair remained ‘uptrend’ from December 19 to December 26 as interpreted from the graph above which signifies the bullish trend.

The DASH/USD pair increased dramatically by 20% compared to December 14 which can well be analyzed from the graph above, which signifies the bullish trend going forward.

Both the moving averages have declined since November 13 last year thereby creating downward pressure over the value as interpreted through the line in the graph above. Since current value trades below the 20-day EMA, which signifies ‘downtrend’ in value. With this, DASH shows that the bears have the upper hands as the DASH/USD pair remains in bearish trends for some time until the next “uptrend” takes place. All those community users and traders who would like to create a long position should remain on the sideline for the time being until the next ‘uptrend’ takes place.

Now let me walk you through certain milestone that this cryptocurrency attained in the recent past. The DASH/USD pair remained range bound from October 11 to November 06 last year, as the cryptocurrency rallied from a low of $155 to a high of $175 which is a 12.9 percent return within 26 days.

On the company-specific front, Dash’s core is a unique fully-incentivized peer-to-peer network poised to offer the best of the best where miners are rewarded for securing the blockchain and master nodes are rewarded for validating, storing and serving the blockchain to users. With this, master nodes represent a new layer of network servers that work in highly secure clusters called quorums to provide a variety of decentralized services, like instant transactions, privacy, and governance, while eliminating the threat of low-cost network attacks. In-Dash, everyone has a voice and the ability to propose projects directly to the network. The core value at Dash is “Anything you can do – from marketing to development – that helps Dash grow and improve can be funded.” Having said that Dash funds its growth and adoption, the consensus is guaranteed, and everyone is accountable to the network.

As we can quickly analyze from the graph above that the MCap stands at MCap $611,248,015 (08:09 UTC) with the Price (BTC) 0.01961987 and Price/USD 71.32 (08:09 UTC) 24h Volume 172,253,567 USD (08:09 UTC) can be interpreted from the graph above. Additionally, the MCap traded all-time high on January 10 above the Price/BTC and Price/USD that signified that investors are more inclined to buy this asset. However, at present, the MCap traded above the Price/USD and Price/BTC which can be interpreted from the graph above. Let us not forget that the entire trends for all three lines – Mcap, Price/USD and Price/BTC experiencing upward moment, so this is an excellent sign.

While we can estimate from the first graph, if bulls succeed in rising and sustaining above the current resistance level $71.64 (08:14 UTC) and create “uptrend” in value (i.e., traded above the EMA) the investors will start buying this currency more and more thereby increasing its value. However, based on the current trend, the next support level could be $74.

Please feel free to visit https://www.dash.org/ to know more about this cryptocurrency!

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