- The Dash price is trading at the $31.69 bullish point of interest.
- Its all-time high price is at $1642.22.
- The trading volume has increased by 18.80% in the last 24 hours.
Launched in January 2014, Dash (DASH) is an open-source blockchain that offers a fast, cheap global payment network in a decentralized system. The name Dash comes from the term “Digital Cash”. It aims to be the most user-friendly and scalable payments-focused cryptocurrency globally. Dash uses a two-tier network to secure its transactions, which works on proof-of-work (PoW) and proof-of-service (PoS) consensus algorithms.
DASH Crypto’s Six-Month Returns Reduced by 20%
DASH token price started a bullish rally from the $25.19 support level in October 2023. Afterward, it surged nearly 55% to the $39.06 supply level and fell on the $25.19 bullish POI. The price then rallied 80% to the $45.56 level and is facing a downfall.
The fully diluted market capitalization of the DASH is at $611 Million, with a maximum token supply of 18.90 Million. The current circulation supply is at 11.71 Million DASH, which holds a market capitalization of $381 Million.
Dash tokens are created through a PoW mining algorithm in which the emission rate is decreased by one-fourteenth. It approximately decreases 7% or every 210,240 blocks, or about every 383 days.
Price to Volume and Social Dominance Analysis
The social dominance of the DASH token has reflected a noticeable decline in the current month. The domination has declined to 0.042%. Compared to social dominance, the price and volume took more time to turn downwards.
24-hour trading volume is at $74.19 Million, ranked 151st out of all 9,124 active cryptocurrencies. The volume-to-market capitalization ratio (VMR) is 19.29%, making cryptocurrencies more accessible to trade.
Technical Analysis of the DASH Token
The 50-day and 200-day exponential moving averages had a bullish crossover at $31.85. It indicates that the sentiments have changed to bullish in the current phase. Both the EMAs can become a dynamic support for the price.
DASH price has given a breakout from the $39.06 resistance level. Afterward, the price fell from the $45.56 supply level. It is sustaining on the $31.69 decisional point of interest. The price can surge to $45.56 if it gets enough push by the bulls in the current trading sessions.
The relative strength index (RSI) reflects an internal bearish divergence in the price momentum. It indicates that the selling pressure has become strong in the current sessions. The RSI is moving at 41.18 toward the 30-mark lower band.
Summary
The Dash crypto price has been performing in an uptrend since October 2023. Conversely, the technical indicators summary suggested a negative signal in the current trading phase. The current price is trading at the bullish point of interest of $31.69. It can surge to $45.56 resistance if the price gets a strong bullish response at the present level.
Technical Levels
- Resistance Levels: $39.06 and $45.56
- Support Levels: $31.69 and $25.19
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. they do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.