Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
DASH has been on a major bullish rally during the past 24 hours. The gains made by this token have coincided with recovery across the cryptocurrency charts. Most coins have been trading in the green zone for the past 24 hours.
At the time of writing, DASH (DASH/USD) was up by 7.2%, and it was trading at $127.34, according to CoinGecko.
DASH makes a bold uptrend
Over the past two weeks, DASH has gained by nearly 50%. During this time, the token has managed to rise from below $90 to test higher levels of above $120. During the past 24 hours, it tested the resistance at $131, but it was rejected.
DASH shows signs of making major gains because the broader crypto market support is strong. If it maintains the current uptrend, it will test the resistance of $131 again. If it breaks past this resistance, the next target level will be $135.
When the global crypto market cap reached an all-time high in early November, DASH had reached $235. If the current uptrend in the broader market persists, DASH could eye prices above $200. However, to do so, it needs to break past the first major resistance level at $150 and the other level at $135.
With the market trading green, buyers could rush in to buy DASH, giving it the support needed to break past crucial resistance levels and recover its losses since the beginning of the year.
DASH volatility is still high
The cryptocurrency market has failed to sustain an uptrend since the beginning of the year. Several attempts to recover from the January dips have been hindered by a recession following shortly after. Therefore, DASH could make a price correction if the market support weakens. If DASH drops, the immediate support level to be tested is $115. If such a dip triggers panic, traders that bought during the dip might start selling, and the increased selling pressure will push DASH to below $100, and it will test the crucial resistance level at $90. A major plunge in the market could also push DASH towards $75.
The post DASH makes a healthy recovery after a 30% gain appeared first on Invezz.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.