• DASH is in a tug of war with the $215 long-term resistance

  • Dash was launched in 2014, approximately five years after Bitcoin. It was created with a maximum supply limit of 18.9 billion and uses the same proof algorithm, known as the proof of work, like Bitcoin. Furthermore, in order to generate the cryptocurrency, one must mine dash using commutation power.

    But these are only the similarities; Dash is much faster and provides a more secure and private transaction medium than Bitcoin, the digital gold. Dash employs a feature known as the master node to accelerate the transaction process via a feature known as instant send. Master nodes are also responsible for the storage of blockchain data, the governance of the blockchain network, and the distribution of Dash development funds for various purposes.

    By holding over 1000 Dash cryptocurrencies, one can become a master node. Aside from instant send, Dash also uses a private send for incognito transactions that cannot be traced back to the original sender. Because it focuses on the ease of using a blockchain for transaction completion, it is increasingly being used for regular payments and to combat hyperinflation in countries such as Venezuela alongside BTC.

    Analysis of the DASH Cryptocurrency Price

    When compared to recent price action and returns, the 2018 rally was akin to climbing Mount Everest. Dash rose from around $11 on January 1, 2017, to a high of $1275 on December 23, 2017, more than 100 times the returns that made people millionaires from small investments. The current trend in 2021 isn’t so great, but it’s still a significant gain. In 2021, Dash rose from around $100 to $400 in April before falling back to around $110 and resuming its upward trend.

    Dash cryptocurrency is having difficulty breaking through its 200-day long-term moving average and appears to be receiving consistent rejections despite three attempts within a week. It will only become positive after breaking through the 200 DMA resistance, which is around $213.3 as of August 19, 2021. Consolidating at current levels without breaking the trend line and launching a strong upward movement. On the downside, Dash has support at $180, with $145 levels following.

    Unlike other cryptocurrencies, which have experienced a drop of more than 15 to 25 percent, dash has resisted any profit booking or sell-off. It is rather waiting for a trigger event to provide a decent uptick. The outlook is positive in both the short and long term, but it is necessary to wait for a while before making a new entry. Dash has a good chance of reclaiming $300 in the coming months.

    On daily charts, the RSI is trading near the overbought zones and is still indicating a bearish crossover, but there is a good chance that it will be a false breakdown.

    On hourly charts, Dash is displaying its true sentiment, which is bullish. According to our Dash predictions, Dash will break out of its trading range and breach the resistance levels on both the hourly and daily charts. Ideally, the price action suggests that Dash should take support from the trendline and bounce back, but one must wait two or three hours for the probability to be certain. The MACD is indicating that the negative swing is coming to an end, and there is a good chance that the price will return to normal.

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