DASH About To Leave The Station

In 2014, DASH was launched with a total market cap of $920 million. The coin was built on top of the blockchain technology used by bitcoin, with some significant improvements made to it. Because of better privacy and higher transaction speeds than Bitcoin, DASH gained popularity with the help of Masternodes, which involve unique model. There are miners on bitcoin blockchain, who verify transactions that take place, and get rewarded for their work in turn. There are also miners on DASH, but these miners are split into miners and Maternodes. Masternodes acts as a special server on the Dash crypto network that performs critical functions. They are accountable for private transactions, instant transactions and treasury systems. Masternodes enhance the system’s security and speed. One of the issues with Bitcoin is that it is entirely public and the public address and value of each bitcoin transaction can be discovered by anyone. But DASH allows transactions to be privately protected, as Masternodes facilitate the transactions. The transaction is private, so it became the preferred coin for illegal trade that is the one disadvantage of DASH. Many sites in the dark market have begun to accept DASH for their customers. If the government does not know who is carrying out transactions, it is also easier to evade taxes. It has therefore attracted the attention of consumers who are attempting to use it for tax evasion or other illegal activities. Out of 18.9 million DASH,  52.74 % is already in circulation.

In addition to the strategic value of DASH, Technical charts look similar to the Litecoin charts which was exploded in November 2020. While seeing Blue triangle break in DASH is very impressive. And if the price range of $200-$240 is breached, DASH can explode much higher in similar fashion of Litecoin.  Dash was one of the cryptocurrencies in 2017 that gained the highest price value during a cryptocurrency bubble, which was 8000% of the Base price. As seen in the chart below, DASH is falling from the 2017 top in a parabolic style.   At the bottom of this parabolic arc, the price became much cheaper and now the process of bottom formation looks to be completed in the first half of 2021, where it can attract market attention.

Since the moves in DASH were significant in 2017, the blue triangle is more visible by looking at the log chart. It looks the same way of Litecoin November 2020 (discussed in previous article).

The process of bottom formation looks very formidable. Dash touches the Parabolic arc resistance at the time of writing, where the neckline of the inverted head & shoulder exists. The HEAD of inverted H&S consists of a double bottom. A fast reversal from the $65 level with this type of patterns, is a strong indication that it would be a powerful move after a break through $200-$240 levels.

Warning! Dash could Highly volatile as compare to other cryptocurrency pairs. That means, price can easily move in between 70 and 150.

Note: Different platforms have rules that differ. All signals can be applied on all platforms, with different attitudes depending on the availability of resources on each platform. The idea is to simultaneously execute three positions. At the nearest exit point, we will close one position and hold the remaining positions for the longer term. You can play these possibilities with some other options available in your platform/exchange/country/wallet.

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