2020-10-25 22:55 |
Dash (DASH) has advanced from $66 above $78 in less than several days and the current price stands around $72. Dash has found strong support above $70 but the price is still not able to surpass $80 resistance.
Fundamental analysis: The transaction volumes are expected to increaseFor the investors/traders that are not averse to risky speculative investments, putting a reasonable amount of money into Dash could potentially turn out to be a very good investment. Dash provides the users with high security as it has over 4500 servers and users are able to conduct the transaction instantly, from anywhere around the world.
The main advantages of this cryptocurrency are low fees, quick confirmation times and a moderate level of anonymity. Dash is already connected with various payment programs and this cryptocurrency might still be undervalued despite some problems.
There is still a level of uncertainty surrounding this project but Dash is one of the cryptocurrencies which you should definitely not ignore. The price of Dash is still far away from the Dash price predictions but if the price jumps again above $80 that could be a very good opportunity for the short-term traders.
The transaction volumes of this cryptocurrency are expected to increase and once this happens, the price of Dash will be at higher price levels. Most professionals predict the bright future for this cryptocurrency because Dash solves two of Bitcoin’s biggest problems: speed of transactions and the lack of privacy.
The average block mining time on the Dash blockchain is 2.5 minutes which is around four times faster than Bitcoin. It is also important to mention that transactions on the Dash blockchain cannot be traced and the coin’s history cannot be accessed.
Technical analysis: Bulls are focused on breaking the resistance level above $80Dash can be a very good investment option according to estimates and some predictions say that this cryptocurrency could be above $500 in the next several years. When trading Dash, you should have in mind that the price could also weaken in the upcoming weeks.
Data source: tradingview.comOn this chart, I marked important resistance and support levels. The important support levels are $70 and $60, $80, $90 and $100 represent the resistance levels. If the price jumps above $80 it would be a signal to buy Dash and we have the open way to $85.
Rising above $90 supports the continuation of the bullish trend and the next price target could be located around $100. On the other side, if the price falls below $70 it would be a “sell” signal and we have the open way to $65.
Summary
Dash can be a very good investment option according to estimates and some predictions say that this cryptocurrency could be above $500 in the next several years. Dash has found strong support around $70 and the technical picture implies that the price may advance above $80 in the upcoming weeks. The transaction volumes of this cryptocurrency are expected to increase and once this happens, the price of Dash will be at higher price levels. Dash price is also correlated with the price of Bitcoin and investors in this cryptocurrency should also have Bitcoin on their “watch list”.
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