Dash [DASH] trades in green as bears take U-turn: Technical Analysis
On Monday, the digital asset market saw the bears taking U-turn with Dash [DASH] attempting to recover from the losses in the past weeks. The altcoins are mostly trading in green, however, at interval the red patches still persist. It is interesting to note that the latest development of the 16th most valuable virtual asset, in terms of its market cap, finding an opportunity to become a payment mode for the famous KFC restaurants in Venezuela could hardly post a major positive impact on the coin’s market performance. At a time when the market sunk with extreme seller pressure, Dash [DASH] failed to save itself from under-performing, plunging almost 21% in the last seven days and nearly 55% in the past one month.
The digital asset is far from breaching its key resistance level, which is, at the moment, noted at $76.14. The MACD suggests that the cryptocurrency is currently trading in the bullish territory while the 100 EMA line points that the coin is in downtrend. The hourly RSI indicator, at the time of writing, is found at 42.2, which indicates that the virtual currency is facing high seller pressure in the market. Going by the data from CoinMarketCap, the overall market cap of the digital currency is noted at $610.11 million. The crypto has spiked almost 2.64% against the U.S. dollar to trade at $71.13.
At the time of writing, the coin had inched up 1.16% against Bitcoin [BTC] with one DASH worth around 0.02001313 BTC.
Dash [DASH] Latest Updates
- 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.
- 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.