Dash is an open source peer-to-peer payment system with the unit of account of the same name. The coin was launched in 2014 and is a fork of Bitcoin. Dash emphasizes user privacy and faster transaction speeds than Bitcoin. The algorithm for mining the coin occurs due to mining, like in Bitcoin, but with support for staking. In past bullish cycles, the coin performed well: + 8374% in 2017, and + 332% in 2021. The coin has already fallen -96% from its peak, so the downside potential is very limited.
Due to the fact that the coin is anonymous, many exchanges have delisted due to local laws. This item can be attributed to the minuses of the coin, but in fact it is a huge plus.
📈 Technical Analysis
Just look at this chart for the five-year history of trading on the coin! In all bear markets, the coin comes to the main support zone of HKEX:30-50 per coin. Globally, we have a massive descending triangle that lacks the last wave of growth to the upper border of the pattern. Also, the price has successfully exited the downward channel upwards and now the accumulation stage is taking place.
So now we have 2 scenarios: 1. Growth from the current ones after completion of the accumulation stage up to HKEX:200 and then flight down. 2. Growth from the current ones after the completion of the accumulation stage with the breakdown of the figure upwards. In this case, the coin can arrange a real tothemoon 🚀
💠 Outcome: Now the coin is cheap and is trading near its bottom. However, at current levels, volatility is quite high, so at the moment you can see a drawdown of up to -50%. But even at current prices, the coin looks very promising.
For medium-term and long-term investment, a coin can be bought at current values, but we recommend buying back a coin during a correction. 📊 Long current price: 49,6$ ⭐️ Main position recruitment zone: 30-40$. 💼 Volume per trade up to 1-2% of the crypto portfolio. 📈 Up to 800% growth potential.