Between November 2020 and January 2021, Dash corrected upwards by 100%. Bullish patterns were pulling the digital assets to fresh highs. Today, the digital asset faces one more critical resistance before it undergoes a significant 75% breakout on the 7-day chart. The prevailing bulls are gaining sufficient support to throw Dash into a massive breakout.
Dash History Snippet
Before analysing the past, present and future of Dash, Let’s take a closer look at the coin’s features and history. The coin was launched in 2014 as Xcoin by the legendary Evan Duffield. Unlike most altcoins that came into inception in 2014, Dash seems to have established a strong following. Most of 2014’s coins withered away from the market. The digital asset was originally a Litecoin hardfork. Months after invention, the coin got rebranded to Darkcoin. However, the community received alot of critics and in March 2015 -; Duffield chose DASH as its new name to reflect the asset’s focus on digital payments with cash. Today, people refer to the coin’s blockchain as Dash, as well its native currency carries the same name. Meanwhile, note that Dash was buit ontop of the same codebase as Bitcoin. However, Duffield was more particular that the currency had to be more efficient than Bitcoin. Therefore, he led the developers to make several key changes on the Bitcoin Codebase.
Here are notable Dash Features making the coin to stand out.
A decentralized funding system for users to initiate funding for their own Dash projects.
Dash processes transactions faster - especially with it’s instant send feature (InstaSend) which enables people to send cash within as little as 1.5 seconds. The average transaction time on the platform is 2.5 seconds - which is 5 times faster than bitcoin’s light network.
Dash is a privacy coin - the digital asset if fully anonymous. The developers reared off from Bitcoin’s key transparency feature and built a privacy feature for people to run exclusively private transactions. This has essentially become an important tool for avoiding strict goverments fron exploiting and monitoring citizen payments.
Thanks to this privacy feature, the coin has become a valuable funding tool for countries facing trade sanctions and citizens with strict governments. For example in Venezuela where more than 800 merchants are accepting DASH payments. This is mainly because cryptocurrency has emerged as a more sustainable and stable alternative to Venezuela’s crashing currency - the bolivar. Elsewhere in Africa, a startup in Zimbambwe has gained funds to establish a decentralized funding system that uses DASH as a solution to the nation’s already crushed economy. Alt Thirty Six, a US platform is also facilitating payments in the cannabis industry taking advantage of the coin’s privacy features. In London, numerous DASH ATMs have also been sprouting up from different startups.
Weekly Chart
The price of Dash is also establishing a symmetrical triangular pattern and nears a significant breakout. Crypto price analysts anticipate these breakout anywhere in the near future. Presently , the coin is trading for $130, while the trendline resistance narrows around $140. Meanwhile, the market is set for an upward price correction towards $250 , in case Dash breaks beyond $140. We established this trendline by evaluating a 75% increase throughout the height of the pattern.
Volumes
The social volume for Dash has however been on a declining channel since peaking at $154 around January 11. Notwithstanding, the market is still afraid a top trendline around $140 would be devastating for the asset. This is because the bears are likely to push the coin further downwards to the lower boundary of the triangular pattern - which is $70.
Q4, 2020 Dash Events
Dash Fundamentals suggested the asset’s blockchain had faced increased on-chain activity between 2018 and 2020. The previous year also saw the community developers bring more updates into the network including ; native UI, PrivateSend and mempool syncing. Around October of 2020, Major Dash pairs (DASH/BTC & DASH/USD) were facing significant resistace from bearish price actions. The trading community was even preparing for a new multi-year low if BTC support was not going to hold at 0.005 BTC. A situation that would push the price to a new mutli-year low of 0.0022BTC.
The beginning of 2020 saw DASH move a fresh line within the wider cryptocurrency market. At first hitting 286% from December lows and pushing those gains further downwards to an annual low around March 12. Using the Exponential Moving Average, volume profiles, Ichimoku Cloud and Pivot Points, price analysts were able to identify potential roadmaps for prices to anticipate. For example on the coins pair with the US dollar, the 200 Exponential Moving Average (EMA) and 50-day EMA bearishly crossed on both the 13th of March and the 19th of Septmember. Within no time, the 200 Exponential Moving Average took over as the new resistance at $76. Around november however, the coin lost all its active bearish and bullish divergence on RSI and Volume. Nonetheless, the coin had established a significant volume resistance around mid-year. The price hit $70 and established a significant support around $50. Eventually setting psychological expectations and local highs to $200, $150 and $100 - in the eventuality of further upsides.
2021 Price Forecasts (DASH)
Since we have already recapped a bit of how Dash came to be and its past forecasts. Let’s dive at what to expect in 2021. The information herein is valuable if you are considering to add or have already added DASH into your investment portfolio. However, this article doesnt not serve as investment advice but rather as a guideline of what to expect using past market price as the benchmark.
Previsioni Bitcoin Platform, an italian cryptanalysis software positively asserted that DASH investors can expect some good news into the year. They said for instance, the price of dash should hit $100 by the start of January - and that happened. The platform also projected the coin was going to climb towards $120.6339 by the end of January and keep rising throughout 2021.
In fact, the market has a positive outlook for Dash coin. The team is planning to establish a partnership of payment systems with both large and small enterprises. Dash’s ease of use is making it a favorite among merchants and ecommerce sites. Additionally, the coin’s blockchain boasts a fast and reliable network with state-of-the-art user experience. Market analysts believe with such features, the coin can aim higher and easily attain a price of $2,000 per coin.
An analysis by Previsioni Bitcoin predicted that Dash was going to hit $480 within the final quarter of 2021. The platform’s graph anticipates a staggering growth rate that could place the coin around $656.70 by December , 2021. Given the fact that Dash only hit above $100 recently, this seems such a bold prediction. This is the reason other platforms such LongForecast disagree with what previsioni Bitcoin had to say. The latter platform agreed Dash was going to hit values above $100 by the start of 2021. However, their outlook for Dash by the end of 2021 sits at $116.2. The platform anticipates the coin to mantain a stable price slightly above $100 until September. At the start of 2021’s Q4, the platform projects the coin will plummet towards the $50 support and close the year at $79.69. Traders and investors therefore have to choose whether to risk 2021 bearish patterns or wait for 2022. However, they may also choose to take advantage of the digital asset’s short-term price fluctuations.
Dash Price Forecasts - 2022
Price analysts believe 2022 is a good year for the coin and it could hit off January at $275.45. Again the bulls are going to take over 2022 with a massive price correction that will end Dash’s year at $402. Possible price fluctuations are possible in the first and second month of that year and this will be around $241.72 and $263.38. By 2025, Dash will have ammassed massive potential and a strong following - which will make it a better candidate for competing with Bitcoin. The coin is likely to hit $500 in 2025 and make its place as one of the most valuable altcoins in the world.
Dash Price Analysis - Five Years Going UP
Crypto analysts have however grew alot of interest on what’s likely to happen to markets in the next five years. We’ve seen great variatons on what traders could be in for in 2021. For those considering crypto as a long term investment, 5 years is a good benchmark to forecast what patterns to expect. Bitcoin Previsioni predicts Dash is going to hit $700 in January 2022. According to their charts, the price will however correct downwards from there. As from February, Dash will only be worth $577.1668 - a number that is likely to keep falling until the end of Q1. In may, the price will increase to $497.2268 and hover within the $500 support. Around October and November , the price will drop sharply towards $340.According to data we analyzed from the platform, the asset will close that year at $417.2868 - a price that is five times up than the present price. However, it willbe less than two-thirds of its forecasted value in 2021.
