Dash Price Attempts to Break $300 Resistance Again After Multiple Rejections

Various cryptocurrencies have noted strong gains over the past few hours. Even though the Bitcoin price is still struggling to gain a stable foothold around US$5,800 for the time being, altcoins are slowly moving up again. The Dash price, for example, is appreciating nicely, seeing a 10.51% gain over the past 24 hours. At this rate, we will see a Dash price of US$300 before the day is over.

Dash Price is Surging After Massive Dip

The world of cryptocurrencies is filled with ups and downs. Volatility has become the norm in the world of Bitcoin and altcoins. Even though most people had expected the major volatility to be behind us, the past few weeks have proven differently. Traders have been on a wild ride as far as the Dash price is concerned.

To be more specific, the Dash price has seen four attempts at surpassing US$300 over the past week. While three of these were successful for a brief moment, all were ultimately rejected. Every rejection saw the Dash price drop by around US$15 or more. These wild swings created a lot of manipulation opportunities, as did low trading volume.

Over the past seven days, we have seen the Dash price drop as low as US$264.89. Considering that the same Dash is now worth US$296.64, that represents a very solid gain for the people who bought the dip when it occurred. It is good to see people acknowledging opportunities when they present themselves, as there has been a fair amount of “coin flipping” to be done with altcoins. Dash is no exception in this regard.

Speaking of the Dash trading volume, it doesn’t look all that spectacular right now. With just US$68 million in 24-hour volume, Dash isn’t doing all that well for itself. This is not necessarily a worrisome sign, yet it shows that little money can move the Dash price in either direction fairly quickly. Any gains visible right now could be wiped out by one or two market makers in mere minutes. That doesn’t mean it will necessarily happen, though.

Looking over the list of exchanges ranked by Dash trading volume, Bithumb is the place to be. It is followed closely by HitBTC and YoBit, of all platforms. YoBit is one of the smaller altcoin exchanges in the world, thus it is surprising to see the site listed among the top 3 Dash marketplaces. Then again, every trading platform is valuable in its own way, and YoBit shouldn’t be ignored by any means.

For the time being, it seems to be a matter of time until we see the Dash price surpass US$300 again. Whether or not this momentum can be sustained this time around remains a big question that can’t be answered easily. No one can deny the markets are responding positively to the current Bitcoin price dip, but things are always evolving behind the scenes. An interesting future lies ahead for the Dash price; that much is evident.

One Response

  1. Jenna October 24, 2017

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