Coin of the day is Dash.
Dash (known earlier as Darkcoin and XCoin) is one of the biggest alternative cryptocurrencies with a focus on transaction speed and privacy. Due to the privacy of the transactions, Dash coin managed to occupy one of the leading positions behind the Bitcoin when it became clear that bitcoin could not offer the appropriate level of confidentiality to users. Despite the negative attitude towards the coin from some countries, Dash is considered one of the most stable cryptocurrencies.
One of the positive factors on Dash is the fact that it has seen a sustained level of adoption even during the recent crypto downturn. In that period, Dash was added to Abra, a platform which acts as an online bank, where investors can spend their cryptos. In that same period, it has also be added to Bitit and Negocie coins. That’s a good indicator that Dash has what it takes to be mass adopted as a usable currency, which is good for its long-term value growth.
Upcoming
Dash Evolution v1 (13.0 - Evolution v1 - Mainnet) is scheduled to be released in June. Dash Evolution is meant to play the same role as SegWit or the lightning network. It will make Dash transactions faster, and cheaper and hasten the rate of adoption.
Technicals
DASHBTC downtrend found a bottom at the 0.0414 level on 01.04.2018 and started to draw a turnaround pattern supported by high volumes. In two weeks the price rose above the 0.045 level and soon, on 18.04.2018 crossed 0.05 level, which proved the turnaround pattern formation. Recently Dash crossed last of the Bearish Trend Lines, which ends global downward tendency; yesterday the coin also went above the 100-days EMA, it is a bullish sign as well. Bullish Trend Lines and 100-days EMA should act as a support for the uptrend movement. From the above, 0.059 level looks like minor support, in case of a breakthrough of what the price will test 0.06 level. Breakthrough of the 0.06 level will lead DASHBTC to the 50% Fibo zone and 0.065 resistance. Holding 500.0 level by the DASHUSD price also will play as a bullish factor.
Dash (known earlier as Darkcoin and XCoin) is one of the biggest alternative cryptocurrencies with a focus on transaction speed and privacy. Due to the privacy of the transactions, Dash coin managed to occupy one of the leading positions behind the Bitcoin when it became clear that bitcoin could not offer the appropriate level of confidentiality to users. Despite the negative attitude towards the coin from some countries, Dash is considered one of the most stable cryptocurrencies.
One of the positive factors on Dash is the fact that it has seen a sustained level of adoption even during the recent crypto downturn. In that period, Dash was added to Abra, a platform which acts as an online bank, where investors can spend their cryptos. In that same period, it has also be added to Bitit and Negocie coins. That’s a good indicator that Dash has what it takes to be mass adopted as a usable currency, which is good for its long-term value growth.
Upcoming
Dash Evolution v1 (13.0 - Evolution v1 - Mainnet) is scheduled to be released in June. Dash Evolution is meant to play the same role as SegWit or the lightning network. It will make Dash transactions faster, and cheaper and hasten the rate of adoption.
Technicals
DASHBTC downtrend found a bottom at the 0.0414 level on 01.04.2018 and started to draw a turnaround pattern supported by high volumes. In two weeks the price rose above the 0.045 level and soon, on 18.04.2018 crossed 0.05 level, which proved the turnaround pattern formation. Recently Dash crossed last of the Bearish Trend Lines, which ends global downward tendency; yesterday the coin also went above the 100-days EMA, it is a bullish sign as well. Bullish Trend Lines and 100-days EMA should act as a support for the uptrend movement. From the above, 0.059 level looks like minor support, in case of a breakthrough of what the price will test 0.06 level. Breakthrough of the 0.06 level will lead DASHBTC to the 50% Fibo zone and 0.065 resistance. Holding 500.0 level by the DASHUSD price also will play as a bullish factor.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.