Dash: price increases by 40%
Trading

Dash: price increases by 40%

By Federico Izzi - 20 May 2019

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Today there is a clear prevalence of red signs. The only green signs are those of Dash, with the price rising 8% from yesterday, and Monero, whose value increases 1%.

dash price
Source: https://coin360.com/

Dash, from the lows of last Friday, scored a +40% in just over three days. The rise that began over the weekend pushed prices to the $177 threshold, which are levels that Dash has not seen since October 2018.

As a result, Dash has climbed an impressive 175% from the lows of early February. Monero is also dragging itself into positive territory, these two cryptocurrencies very similar in use and development of the protocol.

The reasons for the upward movement of Dash may be due to the update of the masternode. From April to date two updates have been made and this provides greater security to the crypto known to guarantee total anonymity and privacy.

dash price
Source: https://it.tradingview.com/symbols/DASHUSD/

The most drastic downward movements, among the top 20 cryptocurrencies in the ranking, include Cosmos (ATOM) and Basic Attention Token (BAT), both -5%.

The situation remains delicate due to the high volatility, with prices fluctuating over the period’s highs. During the night there was a very important concerted movement with prices fluctuating by 10%.

dash price
Source: https://it.tradingview.com/symbols/XRPUSD/

The rise in recent hours continues to confirm the capitalisation close to 246 billion. Bitcoin’s dominance rose again by a few decimals to 57%. While Ethereum’s remained above 10%, falling below the 11% it had reached last week, Ripple once again suffered a 20% drop in prices from last Thursday’s highs, and its dominance fell below 7%. Thursday prices were close to 48 cents, and now they are at about 40 cents.

dash price
Source: https://it.tradingview.com/symbols/BTCUSD/

Bitcoin (BTC)

During the night bitcoin reached a maximum of 8,250-8,300 dollars, marking the current technical structure. A level that will have to be followed carefully in the next few hours and days. A lack of return over $8,300-8,200 and a possible drop below $7,500 could trigger further profit-taking and push prices below $7,000, the relative lows of last Friday. Any movement would attract sales, causing prices to fall further.

From a monthly perspective, the reference level of support remains $6,300-6,000.

dash price
Source: https://it.tradingview.com/symbols/ETHUSD/

Ethereum (ETH)

For Ethereum the technical structure is very similar to bitcoin, with a double maximum reached in the night just below that of last Thursday. With prices going up vertically last week, rising to $280 in 5 days with +50%, Ethereum now needs to find a base on which to reconstruct a new start.

Over the weekend the first level of support was recorded at around $230, which provided a bullish push during the night.

The push has not found the strength to bring prices back to last week’s prices, a record for 2019.

In the next few hours and days, it is necessary for ETH not to violate the minimums marked over the weekend at $230. In the event of a break, prices would find room for extensions that could result in testing the 220-200 dollars in the coming days.

A confirmation of this bearish hypothesis would bring back tensions on Ethereum following those that have been abandoned with the excellent increases of the last 10 days.

Upward it is necessary for Ethereum to break down the resistance of 270-280 dollars, which would bring prices back to test the next psychological area of 300 dollars, levels abandoned since last August-September 2018.

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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