After touching all-time highs above 1500 USD in 2017 the price of Dash has been declining for most part of 2018. At press time, Dash is trading at 164 USD which represents a rather steep decline since its 2017 top. As it will be quite tough for the market to prove our Dash price forecast for 2018 right still this year what is our viewpoint on Dash in 2018 and 2019? Visibly, the Dash price has reached a decision point, and a new trend will emerge sooner rather than later!
Note that this is a sneak preview of InvestingHaven’s blockchain & crypto research service.
If we consider the percentage decline in isolation the Dash price is bearish. However, the perspective for the Dash price becomes completely different once we follow InvestingHaven’s proprietary methodology. This article will cover the Dash price performance and price perspectives based on Dash’s price chart and our proprietary criteria to assess he health of Cryptocurrency projects.
Dash Price Chart Bullish on Multiple Timeframes
When looking at the long term Dash price chart, we observe the following:
- The dominant trend on Dash’s price chart is clearly an uptrend with the occasional pullbacks.
- Most significant and defining moves are preceded by a descending triangle that resolves to the upside
- For the current descending triangle to resolve to the upside, the 132 to 160 USD support area has to hold and volume needs to pick up.
The monthly chart illustrates clearly the point we make in the title: The close of October’s candle is very important for the performance of Dash for possibly the next 10 to 12 months. It could be the beginning of the breakout just like it could be the breakdown. The fact that the dominant trend is a clearly upwards means there is a Bullish bias but the direction will be clearer as of November.
The weekly Dash Price chart shows the same important price area as the monthly chart. In addition to the importance of Dash price trading above 132 USD, we also notice how descending triangles are pretty recurrent in Dash’s price chart and they usually precede significant price movement.
Our 2018 Dash Price Forecast Update
Earlier this year, we shared our Bullish Dash price forecast for 2018. We later on updated our readers when Dash announced KRIP’s partnership that we maintain our positive stance for DASH. With this article and deep dive into the amazing things that DASH core is working on and has on its roadmap we still believe our Dash price forecast is still likely to be reached by 2019.
The set of criteria we use to assess Dash’s potential are the same as the ones we use to assess and rank different cryptocurrency projects for premium crypto subscribers.
Dash in particular is scoring high thanks to:
- The strength of the dynamic and structured team
- Dash core’s take on increasing adoption by focusing on making their wallets hence Dash accessible to the masses.
- The concrete successes the team achieved so far and the high scalability of the Cryptocurrency.
Therefore, based on the chart and the health of the project, it is very likely that Dash will outperform its peers once the market recovers.