It has been a very interesting week for all cryptocurrencies. Most of the markets appear to be moving up again during the weekend.
Particularly the dash price is showing some signs of life. Its gains appear solid, and permanently surpassing $60 may just be a matter of time.
Dash Price Momentum Swings
Over the past week, a very interesting dash price has become apparent. It is evident that this currency is now focusing more on being used for payments instead of just privacy. Those efforts are paying off, as can be seen in the recent weekly recap of developments affecting this altcoin.
With the dash price moving up from $43.61 all the way to just above $60 earlier today, the uptrend is firmly in place. A net 36.5% gain over the week and a 19.8% increase over the past 30 days shows there is a lot of momentum left in the tank. A sustained upward trend remains in place.
It would also appear that dash has plenty of trading volume to go around. Even today, over 36% of its total market cap is represented in trading volume. Most of the trades occur in P2PB2B, Binance, Huobi, and Digifinex. Bitcoin, USD, and USDT pairs can be found across these different platforms.
Dash/USDT Technical Indicators
Bollinger Bands: As the BBs are currently gaping and wide open, it will be interesting to see where the dash price heads next. Right now, a renewed push to break the $60 resistance is still present. As this level has been broken once before earlier, there is no reason why it couldn’t happen again.
Moving Averages: Dash has some interesting moving averages to keep an eye on. The MA20 is well above the MA50, indicating that this bullish trend might not be over. Both lines remain well above the MA200, although that too is moving up rather sharply – at least, on the hourly chart.
Daily charts paint a slightly different picture. The MA20 is still below the MA50, but a bullish crossover appears to be on the horizon. The MA200 is still moving down. It now points at a potential push to $91 in the weeks to come, albeit that is not necessarily an official market indicator.
RSI: The dash RSI shows the market has gone from overbought territory back to normal levels. However, it is seemingly bound to enter overbought territory once again. Such a trend isn’t exactly worrisome, though. It simply confirms this altcoin is on a bullish trend and may break the downward slope in a definitive manner.