The bullish snowball in the crypto market is getting bigger and bigger, with coins waking up behind others. Now it is the turn of those who specialize in privacy (DASH, ZEC and XMR). In this publication, he conducted an analysis of Dash, in order to review such important behavior, and look for signs that tell us where it is going.
At the time of this writing Dash is trading at $ 274.06, accumulating a gain of 13.88% in the last 24 hours, and a surprising 129.13% in the last 7 days.
Participants from the same market segment, Monero has generated profits of more than 40% in the last 7 days, while Zcash exceeds 120%.
Analysis of the monthly chart tells us that Dash has a long way to go
When we do an analysis of the monthly Dash vs USD chart, we realize that the more than 100% rally we are seeing is just signaling the start of a long-term trend momentum that should extend much further.
We are talking about this trend having been making a correction for more than 3 years. After getting the bottom of that process this current year, we may finally be looking at a new search for all-time highs.
With the break of the immediate resistance at $ 115.38, and later the one located at $ 165.21, now the ground has been cleared to $ 473.50.
The outlook is quite clear, a bullish continuation is most likely. And if we consider that we are seeing the resumption of the historical trend, surely not even the zone of highs will be an obstacle for the bulls.
The momentum is not yet exhausted
In the short / medium term we are seeing significant momentum in Dash development. Despite the fact that it is already quite widespread, it seems that a small correction late last week was enough.
The week that is just beginning is starting with great bullish force. At the moment there is nothing to indicate that a deep setback is on the way. A new multi-year high is likely to be reached before that occurs.
With a clear succession of increasingly higher lows and highs, observed after performing an analysis of the weekly Dash chart, there is no reason to think about strong selling.
At this time a fall will be nothing more than a product of healthy profit taking, and then sooner or later the demand from those who take advantage of discount prices will curb the selling pressure.
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