Dash [DASH] fails to leap over $81 support level: Technical Analysis
On Thursday, as the cryptocurrency market continued moving in downward spiral, Dash [DASH] experienced a high seller pressure. The retreat of the bulls from the market space, dropped the coin prices making them trade in red. Since the period of recovery for the major altcoins is brief, hence, the 16th most valuable digital asset in terms of market cap has posted significant losses over the bearish phase. The crumbled market condition was convincing for the buyers to sell off the coin. At a time when the market sank , Dash [DASH] has gone down almost 23.81% in the last seven days and nearly 54.66% in the duration of a month.
The MACD exhibits that the cryptocurrency is trading well into the bearish zone and is continuing its downward trajectory. The 100 EMA line clearly indicates that the coin is fixed in a downtrend. The digital asset, at the moment, is trading below its key support level, which can be found at $81.08.
The hourly RSI indicator was noted at 39, which implies that the crypto is experiencing a heightened selling pressure and moving towards the level of being oversold in the market. The overall market cap of the virtual asset stands at $660.83 million. The token has inched down almost 4.85% against the U.S. dollar to currently trade at $77.89.
At the time of writing, the digital currency had slid around 3.20% against Bitcoin [BTC]. Currently, one DASH is valued at about 0.020354 BTC.
Dash [DASH] Latest Updates
- By laying a significant foundation for mass merchant adoption,Dash will soon activate InstantSend transactions by default. From the 0.13 release, the default regular transactions will change into InstantSend. Unlike regular transactions, the InstantSend makes use of masternode network to lock transaction inputs for an extra fee. The masternodes will automatically lock all Dash transactions without charging additionally or asking for the software explicitly support the InstantSend option.
- In a recent Q&A session hosted by Roger Ver, three pioneers of Bitcoin Cash- Roger Ver, Corbin Fraser, and Mate Tokay showed high regards for Dash when a viewer asked their opinion about the virtual asset. When the viewer asked the question, Roger Ver and others answered in the affirmative. Ver mentioned how the slogan ‘Digital Cash’ talks for the cryptocurreny and also talks about the overall objective of the cryptocurrency to be used in everyday transactions.