What's up with Dash?
Global markets fell today, amid fears of the Delta variant of the Covid-19 virus. Yet among all the doom and gloom, Dash saw gains of 15.5% - what gives?
---
First, let's take a look at the DASH Coin Metrics. The most recent price of DASH at the time of writing is: $136.73.
The 200 Simple Moving Average (SMA) is at: $202.78, and the percentage distance from the latest DASH price and the 200 SMA is: -33.0%. A coin which has a price less than its 200 SMA is less costly on average than at any other time, and so this might be a good time to buy. Beware though that this may also be a part of a bearish trend, where the price might drop even further. DASH is also below the 365 SMA, and in fact seems to have recently bounced off the 720 SMA, which is the 2-yearly average price of the coin.
---------------
A recent study by CryptoRefills, a company that sells vouchers and gift cards in exchange for cryptocurrency, suggests that while many users view Bitcoin as a useful way to pay for goods and services, many users hold other assets in their portfolios as well, such as DASH and Litecoin (LTC), which have lower transaction fees.
Could this be the reason for a sudden interest in DASH? Let me know your thoughts in the comments below!
Happy trading, folks! Please like and follow if you'd like to see more of my content.
---
First, let's take a look at the DASH Coin Metrics. The most recent price of DASH at the time of writing is: $136.73.
The 200 Simple Moving Average (SMA) is at: $202.78, and the percentage distance from the latest DASH price and the 200 SMA is: -33.0%. A coin which has a price less than its 200 SMA is less costly on average than at any other time, and so this might be a good time to buy. Beware though that this may also be a part of a bearish trend, where the price might drop even further. DASH is also below the 365 SMA, and in fact seems to have recently bounced off the 720 SMA, which is the 2-yearly average price of the coin.
---------------
A recent study by CryptoRefills, a company that sells vouchers and gift cards in exchange for cryptocurrency, suggests that while many users view Bitcoin as a useful way to pay for goods and services, many users hold other assets in their portfolios as well, such as DASH and Litecoin (LTC), which have lower transaction fees.
Could this be the reason for a sudden interest in DASH? Let me know your thoughts in the comments below!
Happy trading, folks! Please like and follow if you'd like to see more of my content.
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.