Dash is one of the most famous privacy coin, among with Monero and Zcash is one of the 3 most capitalized privacy focused coin, unfortunately the down trend that hit the crypto market push Dash from a high of almost 140 Dollar to a minimum of 31 Dollars in just a month, the steep down trend broke up around 20 march when the coin find a relatively good support at 60 Dollars.
This breakup drive Dash to a trading range that find a support at around 60 Dollars and a resistance at 89 Dollars, this big range is still valid and can keep going for quiet long time if the market don’t find some positive or negative news strong enough to push the quotation to break this sideway trend.
The positive factor is that inside this big channel start to be visible a possible uptrend that can drive the coin to test the resistance, for sure we will need to see a clear signal of strength over 80 Dollar for validate the way to the 89/90 Dollar that is an important target.
We can also see that the low volatility is not helping Dash to try to breakup this figure, if we will see an uptrend we may expected to see resistance at 94/95 Dollar and at 110 Dollar, this two level are very important to validate a positive movement that can shift the valuation of this coin to higher level. On the downside the supports are situated at 68 Dollar, if the trend would breakup this level the next support are at 58 and 53 Dollar but this would also mean that the trading range is no more valid and that a new down trend is forming.
LONG TERM VIEW
There is another figure that is interesting to take a look, in a more long term chart as the one year chart we can notice that there is a double minimum that is yet form in the last six month, this can drive the valuation to push up strongly if the bulls can be stronger than the bears.
The level of 97/99 Dollar could be a big battlefield and can sign the destiny of Dash for the medium/ long term, a possible continuation on the upside would drive the quotation at the 134/ 135 level, this would be a revisit of the maximum till august and may prove a strong movement for Dash.
