Despite the fact that almost all the coins in the crypto market have been losing for the last few years, Dash Coin is slightly increasing in price.
At the time of this writing DASH is trading at $ 138.76, accumulating a gain of 8.43% during the last 24 hours. Its market capitalization is $ 419 million, making it 77th in the Crypto Online ranking.
This is a cryptocurrency with a long history, and that has been quite displaced within the ecosystem. Even so, it is still one of the largest, and its utility continues to grow.
Dash is characterized by having a network capable of processing instant and secure payments, with operating costs of less than a penny per operation. These are the kind of qualities that a cryptocurrency needs to be an alternative for everyday purchases, and it is thanks to this that Dash has managed to remain one of the leaders in this market.
Putting the ‘Fun’ in Fungibility! 🙃👍 # DASH is Digital Cash ⚡️💸
Instant and secure payments that cost less than a cent to send to anyone, anytime, anywhere in the world. 🤯 @ Dashpay is trustless, permissionless, censorship-resistant money that is instantly re-spendable! 🚀 pic.twitter.com/njtvdonU2F
– Mark Mason (@StayDashy) January 7, 2022
Crypto Dash technical analysis
In the monthly chart DASH vs USD we see that this cryptocurrency has been one of the ones that rose the least during the 2020/2021 bullish rally.
This may in part be one of the reasons it’s been jumping higher lately. Perhaps you no longer have much more to lose, thanks to a strong cushion of holders who accumulate at low prices.
Currently, we are seeing the price of crypto Dash defending a support zone around $ 140. If this continues, the current point could be the beginning of a major rally to the upside.
However, today there is a certain dominant bearish risk, which could drag the price of this cryptocurrency lower. This risk would not be too worrisome as long as that support zone around $ 140 holds.
To confirm that the bulls are regaining control, the resistance at $ 222 must be crossed, which would open the way to buying down to a low of $ 473.
Technical analysis of the crypto Dash. Source: TradingView.
From this time frame we can take a more detailed X-ray of what is happening with crypto Dash.
Since the widespread crypto market crash began (early May 2021), Dash has been locking itself into a descending triangle, which could be heralding a bigger dip.
However, an increase in selling pressure would only be confirmed if the triangle support is crossed, which is located at $ 115. If this happens, the land would be cleared to a minimum of $ 87.
Currently, the immediate support level is being defended, and although it has not generated an overly optimistic rally, buyers still have a good part of the odds in their favor.
At the moment, it seems that fear and uncertainty in the crypto market could cause more problems for Dash. However, in the event that the general decline bottoms out soon, then this coin could benefit quite a bit next.
All our publications are informative, so in no case should they be followed as investment advice.