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28 March 2024
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Altcoins

Dash Analysis: DASH drops 50% and generates a chance to buy

After correcting more than 50% in the last big fall, Dash has been gaining momentum and may just be in the beginning of a major bullish trend.

Check out today’s analysis and understand how far this movement can go!

Monthly chart

Looking at the monthly chart, we see Dash still at the beginning of what appears to be a wave 3 move, targeting $ 1,600:

Dash monthly chart (M)

Weekly chart

Looking at the weekly chart, we see that Dash has broken through the $ 200 resistance and has been holding it well above it. This is a great sign to indicate the beginning of a new trend.

The cryptocurrency has been rising since the $ 60, however, only now has it reversed the downward trend that started in 2018:

Dash weekly chart (W)
Dash weekly chart (W)

Daily chart

If we look at the very short term on the daily chart, we can see Dash targeting $ 390 and $ 470 per Fibonacci:

Dash daily chart (D)
Dash daily chart (D)

Conclusion

Despite being currently below the top 50 in market value, Dash is a project that has always been looking to update itself and is about to launch several new features.

Perhaps this will drive the project, which today has just over 10 million coins on the market. It is worth keeping an eye on Dash at this moment, where we have a correction going on and a downward trend being reversed.

Read also: Campaign accepts cryptocurrencies to help child with cerebral palsy

Read also: Bitcoin dominance in decline: time for other cryptocurrencies?

Read also: Bitcoin will reach R $ 415 thousand if resistance breaks, says analyst

Warning: The information contained in this document is not guaranteed, is not intended to be comprehensive and is strictly for informational purposes only. It should not be considered as an investment / trading recommendation. All information is believed to come from reliable sources. CriptoFácil does not guarantee the accuracy, accuracy, or completeness of the information in its analysis and, therefore, will not be responsible for any losses incurred.

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