The Dash price could potentially reach 3000 USD towards the end of 2018. There are multiple factors that could drive Dash price up and today’s article will cover some of the reasons why we believe this is possible. We will also provide risk factors that would invalidate our bullish outlook.
The 3000 USD is a revised target as we initially published a 2000 USD price target for Dash in 2018:
Our Dash price forecast or 2018 is 1500 USD with a potential to reach 2000 USD provided the sector leader Bitcoin remains on its uptrend and Dash price remaining above 400 USD. We expect a price correction in the process of reaching 1500 USD where Dash might revisit the 400 USD (or almost) and this backtest has to succeed for the uptrend to continue.
Dash Price based on the Strength of the Community and Leadership
When we wrote our initial Dash price forecast for 2018, we wrote about the fundamental aspects that differentiate Dash. That aspect hasn’t changed since and we still believe that Dash has a strong value proposition that you can read about in our Dash price forecast for 2018.
An interesting article was published recently by the Medium where they interviewed the Dash Team about the project, their strengths, Roadmap and how they differentiate themselves from other projects (Cryptocurrencies). Here is an exerpt and you can read the article here:
One of our greatest strengths is our masternode community as they are the backbone for the governance structure we have in place. Dash has a corporate-like structure in which the owners of the masternodes act as “shareholders” and it is they who determine the leadership team and funding allocation for its development through a monthly proposal and voting process.
This structure gives us confidence that things will get done when need be and as challenges arise (which is to be expected with such a new technology and transaction type) they will be overcome as there is both funding and dedicated expertise to work on them.
Dash Price Outlook based on the Price Charts
When looking at the charts, we see that 1632 USD was a major top followed later on by lower highs. However, we noted two observations that made us keep a positive outlook for Dash price:
- Consecutive higher lows on the chart which were mostly successful backtests of the previous breakout levels. This is very constructive for the overall Dash price performance.
- The second observation is how the uptrend is intact for Dash price. If you connect the bottoms in the chart below you will see that the price respected the year long uptrend.
The log chart below shows Dash price’s performance since inception, so from 2014 till today. It shows clearly the uptrend we mentioned before. The recent drop has brought the price to the lower half of the ascending channel which represents a good entry point. Note however that at this point, a break below 500 USD means the uptrend is broken so that’s a level Bulls want to keep an eye on.
From the second chart we can also see how 1500 will be a major resistance level for Dash price to overcome. Once that resistance is broken, the price can possibly make it to the top of the channel, therefore to the 3000 USD area.
To conclude, both the roadmap and the chart point to higher prices for Dash and we maintain a Bullish outlook for Dash price in 2018 with a price target of 3000 USD. However, if the price drops below 500 USD without a quick recovery or serious security or fundamental issues with the project, our outlook could be invalidated. Also worth noting that Dash price so far seems to be highly correlated with Bitcoin price so that’s another factor to monitor when choosing Dash.
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