Dash Price Notes Strong Gains as Markets Begin to Recover

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It will be interesting to see what the future will bring for all cryptocurrencies moving forward. While everything is in the green as of right now, it is evident things can always turn from bad to worse pretty quickly. As of right now, the Dash price is noting very strong momentum, resulting in a 12.41% increase. It is a positive trend for the Dash price in general, albeit $500 is still well out of reach.

Dash Price is Rising Slowly

It has become apparent most cryptocurrencies may see some positive overall momentum today. While that doesn’t mean the rest of the week will be equally positive, it is still a positive sign in an otherwise troublesome start during 2018. For the Dash price, 2018 hasn’t been all that great, as its value dropped from $1,500 to $288.95 in fairly quick succession.

Ever since that time, the remontada has been ongoing slowly but steadily. Although the current Dash price of $448 doesn’t look half bad it is evident there is still lots of work to be done before a positive trend becomes visible. Recovering $200 in four months is pretty significant, though, as the Dash price has almost doubled compared to that low point earlier in 2018 An interesting development most people tend to overlook in this day and age.

With this 12.41% increase over the past 24 hours, the Dash price is slowly pushing toward $450 again. If this trend remains in place, it could even go as high as $500 in the coming hours. There is no reason to expect major developments in quick succession, though, as the markets can turn bearish in a heartbeat. Dash also noted a 7.83% increase over Bitcoin, which is a pretty interesting trend worth keeping an eye on.

Thanks to its $170.5m in 24-hour trading volume, things look pretty solid for the Dash price. There is enough trading volume and positive momentum to keep this current trend going a while longer. Whether or not that will result in any major changes over the next few hours, remains to be determined. Small gains a day keep the doctor away in the cryptocurrency world, as things look pretty solid from a long-term perspective.

As of right now, most of the Dash trading volume comes from an exchange most people have never heard of. ZB.COM generates 23.9% of all Dash trades, followed by HitBTC’s BTC pair and YoBit’s BTC market. OKEx and Binance complete the top five, albeit there is no fiat currency pair in sight. Bitfinex’s USD pair is in sixth place, but only represents 3.61% of all trades in these past 24 hours. So far, that isn’t hindering the Dash price surge in the slightest.

Whether or not the Dash price can reach $450 later today, remains to be seen. It is certainly possible given the current momentum, albeit there is some resistance to contend with as well. As is usually the case, there is nothing to be really concerned about right now, and when keeping the long-term picture in mind, things look pretty solid all around.




via The Merkle https://themerkle.com
May 15, 2018 at 07:38AM

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