Up or down? Dash (DASH) price prediction for November

By: Stanko Iliev
Stanko Iliev
Stanko dedicates himself to providing investors with relevant information they can use to make investment decisions. He loves the… read more.
on Nov 12, 2020
  • If the price jumps above $80 resistance the next target could be located at $85 or even $90
  • Analysts predict the bright future for Dash because it solves two of Bitcoin’s biggest problems
  • If the price falls below $70 it would be a “sell” signal and we have the open way to $60

The price of Dash (DASH) has been moving in an uptrend last several days and for now, there is no signal of the trend reversal. There is still a level of uncertainty surrounding the Dash project but if the price jumps above $80 the next target could be located at $85 or even $90.

Fundamental analysis: Dash solves two of Bitcoin’s biggest problems

Dash is a cryptocurrency that was released in early 2014 under the original name of DarkCoin (DRK). Dash provides the users with high security as it has over 4500 servers and users are able to conduct the transaction instantly, from anywhere around the world.

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Dash is already connected with various payment programs and this cryptocurrency might still be undervalued despite some problems. There is still a level of uncertainty surrounding this project but Dash is one of the cryptocurrencies which you should definitely not ignore.

Dash (DASH) price has advanced from $65 to $80 in less than five days and the current price stands around $77. Most professionals predict the bright future for this cryptocurrency because Dash solves two of Bitcoin’s biggest problems: speed of transactions and the lack of privacy.

The average block mining time on the Dash blockchain is 2.5 minutes which is around four times faster than Bitcoin. It is also important to mention that transactions on the Dash blockchain cannot be traced and the coin’s history cannot be accessed.

A very good team stands behind this project, the fundamentals of this cryptocurrency are steadily improving but there’s still a level of uncertainty surrounding the project. We can also not forget that regulations on the cryptocurrency market can actually be a threat to this cryptocurrency.

Investors in Dash should have in mind that this is a still very risky cryptocurrency but now could be a good moment to trade Dash (DASH).

Technical analysis: Bulls are focused on breaking the resistance level at $80

Data source: tradingview.com

On this chart, I marked important resistance and support levels. The important support levels are $70 and $60, $80, $90 and $100 represent the resistance levels. If the price jumps above $80 it would be a signal to buy Dash and we have the open way to $85.

Rising above $90 supports the continuation of the bullish trend and the next price target could be located around at $100. On the other side, if the price falls below $70 it would be a “sell” signal and we have the open way to $60.

Summary

Dash (DASH) price is trading currently above the $75 level and the technical picture implies that the price may advance above $80 this November. Most professionals predict the bright future for this cryptocurrency because Dash solves two of Bitcoin’s biggest problems: speed of transactions and the lack of privacy. There are also some obvious risks when it comes to investing in Dash currently but if the price jumps again above $80 it would be a signal to buy this cryptocurrency and we have the open way to $90.

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