Dash is an alternative cryptocurrency offering many features similar to Bitcoin such as two-tier networks, masternodes with financial incentives, and decentralized project governance.
Dash (DSHUSD) fell from its high of $1247 on January 7th to $610 by January 17th due to this week’s massive crypto market crash, falling below the upper boundary of Ichimoku Kinko Hyo Cloud before eventually approaching signal line area for testing.
Price Analysis
Dash has been trading between $160 and $240 since November highs of $240 were attained, creating a consolidation pattern. An upswing in price could occur upon breaching resistance at around the $160 level and breaking through immediate resistance line, potentially driving it higher towards November’s record high of $240.
Evan Duffield introduced Dash cryptocurrency in 2014 in order to address some of its shortcomings, including transaction speed and privacy issues associated with Bitcoins. Dash uses a decentralized blockchain with its own payment network utilizing “Master nodes” and InstantSend features for transaction security and protection.
Dash may be developing a five-wave impulse advance in wave (1/A). A three-wave decline may follow as part of its correction framework; to maintain upward trend continuation, breaking below Ichimoku Kinko Hyo Cloud upper limit near 170 should indicate change and signal growth of cryptocurrency.
Technical Analysis
Dash has also seen its value decline significantly in the ten days since January 7th when its high reached $1247 to its low point of $610 on January 28th.
Dash is a cryptocurrency created in 2014 under the name Xcoin by Evan Duffield and later rebranded Darkcoin and then Dash in 2015. It was designed as an alternative to Bitcoin that provided better security and transaction speeds, providing investors with greater convenience and safety.
One of the main features of Dash is Masternodes, a system which gives users additional privacy by confidentialising transactions upon user request. Another prominent feature is InstantSend which enables near instant transfers. Dash’s average block time of two and half minutes makes payment processing much faster than Bitcoin. Lastly, Dash features a Treasury system where 10% of rewards go into an fund to support projects on its network.
Fundamental Analysis
Dash was released as a fork of Litecoin in January 2014 with the aim of improving upon some of Bitcoin’s shortcomings, such as slow transaction speed and privacy concerns. Dash offers features such as Masternodes, InstantSend and Privatesend to enable fast and secure transactions.
This cryptocurrency utilizes blockchain and the SHA256 encryption protocol, designed to withstand malicious attacks while also preventing duplicate tokens being issued on its network.
Trading CFDs on cryptocurrencies carries significant risk to your capital. Before engaging in CFDs trading, please read and understand fully our Risk Disclosure and Terms of Business documents and analyze independently before making a decision to invest. Admirals does not provide investment advice or recommendations and past performance is no indicator of future results.
Trading Strategy
Dash is a cryptocurrency with unparalleled levels of privacy, low transaction fees and fast transaction speed – and has quickly gained in popularity to rank 7th among top cryptos.
Trading CFDs on Dash allows you to speculate on its price movements without owning actual coins, thus eliminating the risk of hackers stealing cryptocurrency from your wallet and providing more opportunities for higher profits.
Trading Dash means buying it if you think its value will increase and selling it if its value will decrease. For maximum effectiveness in trading Dash, use technical analysis as well as staying informed of news regarding Dash to maximize returns on your trades and identify profitable trading opportunities.
