Dash was hovering at an all-time high for quite some time and helda strong position for a while gaining 40% in price after the mid-July crash. Up until now, it seems its holders were unwilling to sell it off, but it seems the fact it has been high for quite some time coupled with the massive sell-off of altcoins (probably to pump that money in growing BTC) has finally caused Dash to finally follow the overall bearish market condition. It has broken through several previous support levels based on fib convergence lines (blue)
At this sell volume, expecting 170$ and below is not unreasonable. If it breaks through that
The line represents a convergence of a complete fib retracement from July 24th and a fib downwards line trend.
As has been noticed before, these fluctuations are caused by macro factors such as the upcoming fork of BCT. It is likely that people are putting money into their BTC accounts to benefit from the BCC coin drop. It is likely that the amount of money made will be reinvested into the altcoins causing them to surge in the next few weeks. Remember all the predictions are very uncertain. The market is being driven by sentiment more than usual.
At this sell volume, expecting 170$ and below is not unreasonable. If it breaks through that
The line represents a convergence of a complete fib retracement from July 24th and a fib downwards line trend.
As has been noticed before, these fluctuations are caused by macro factors such as the upcoming fork of BCT. It is likely that people are putting money into their BTC accounts to benefit from the BCC coin drop. It is likely that the amount of money made will be reinvested into the altcoins causing them to surge in the next few weeks. Remember all the predictions are very uncertain. The market is being driven by sentiment more than usual.