Dash News

Dash Sees an Increase in its Mass Adoption While the Market Remains Depressed

Yes…there has been unrest in the market, and yes, this has been giving chills to the current investors as the crypto space keeps getting turbulent frequently. However, this is not something which is stopping Dash from fetching larger userbase.

Recently, A popular chain in Austria, Drugstores.at has started to accept DASH along with other cryptocurrencies like Bitcoin. This has happened amid the help of the Salamantex Payment method. 

Moreover, Dash has added another feather in its hat as recently it won a speed test conducted by Bitrefill, a firm that enables users to use cryptocurrency to top up prepaid phones and buy gift codes. 

On the other hand, Dash’s price bulls are still battling to keep the spirits up. For the large part of the last five days, DASH was bullish enough to test barriers at $82. Rejections blocked the path of the coin, and it sharply fell as low as $77.

The rejections occurred at $82.01, and an initial support level was formed at $77.11. Further, it had a dip at $76.77. The coin has partly recovered from there, but the recent pullbacks have started to test the support level at $77 again. 

If the current sentiment continues, the consolidation phase of Dash may take a bearish turn. The coin has washed out its more than 10% gains over the last couple of days. If we look at the technicals, they are slowly slipping out of a bullish control.

Dash is in need of a stimulating price boost. Here, the coin is about to shift below the moving averages while the MACD indicator is already in the negative area. 

Edward Nash

Edward Nash is an editor and analyst with over 10 years of financial market experience. Prior to joining CoinNewsSpan, he worked in several famous financial institutions. He has been active in the cryptocurrency market since 2011, specializing in technical analysis of current crypto trends and offering analytical opinion-based pieces.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button