Dash
(formerly known as
Darkcoin
and
XCoin
) is an
open source
peer-to-peer
cryptocurrency
that offers all the same features as Bitcoin but also has advanced capabilities, including instant transactions (InstantSend),
[1]
private transactions (PrivateSend),
[2]
and decentralized governance (DGBB). Dash's decentralized governance and budgeting system makes it the first
decentralized autonomous organization
.
[3]
Dash uses a two-tier architecture to power its network. The first tier consists of miners who secure the network and write transactions to the blockchain. The second tier consists of masternodes which enable the advanced features of Dash.As of June 2017, Dash is the seventh most valuable cryptocurrency by market capitalization. source: https://en.wikipedia.org/wiki/Dash_(cryptocurrency)
Dash open its account in trading networks on 12/04/2017 at $65 went up to mark high of $79.9, closed at $71. It created its first resistance of $79.9(marked as Support 4 in chart below) and try to breach it on multiple occasion and finally got successful in breaching on 29/04/2017, then it face resistance at $100 marked as Support 3 in chart and two-three attempt, it able to breach this resistance on 22/05/2017 and Dash then just went wild and volatile, it first touch high of $149 then next three days again tested its support at $100 again relaunched itself to hit Resistance of $149$ again after some days consolidation and forming BULL FLAG PATTERN in process, went again ballistic to touch new high $199.99 on 11/06/2017.
Now, Dash is trading at $190 and after touching high of $199.99 it also tested its support of $149 but recovered quickly to close above 10Days EMA(Red Wavy Line) which I like most in respect of trading and momentum. One thing for which i like to draw your attention on chart again is to notice the movement of both 10 Days EMA and price action. Just see how symmetrically they are going, when prices go up this script again and again tested this moving average but launch itself again to scale upwards. This consistent testing of support in uptrend shows strength and reliability of this script. This is one of reason that RSI indicator is still not in overbought level after so much run up.
In conclusion, I am inclined to announce that strong momentum which it is carrying and shown as RISING CHANNEL in chart below will continue. Yellow highlighted rectangle is recent support zone of this script and any move towards 10 Days moving average can be consider as buying opportunity.
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@jimmyrai28
if not then criticize, this also will be highly appreciated.
You can also drop a comment in 'reply' if want you want me analyze any script of your choice.
could you pls analyse siacoin? I think it is looking good
I will do , but tomorrow as its 12.45 am here and i am feeling sleepy, please visit my blog tomorrow for update on siacoin.
thanks
https://steemit.com/siacoin/@jimmyrai28/siacoin-sc-btc-update-22-06-2017-digesting-its-gains
Check out this post for siacoin update
It should re-descend and then climb back up and head towards the 500
Yeah you are right my friend, this is a pattern it following.
Yes the model is recurrent and allows to make profit easily
yes it is
Thats indeed a new sort of information for me ,thanks for sharing.
You are welcome my friend