Should you buy DASH in August 2022?

By:
on Aug 3, 2022
  • Dash enables instant and cheap payments
  • The important resistance level for DASH stands at $60
  • The current price represents a good entry point for long-term investors

DASH/USD has advanced from $40.73 to $54.62 since the beginning of July 2022, and the current price stands at $49.84.

The current price represents a good entry point for long-term investors, and if the price jumps above the resistance level that stands at $60, the next target could be $70.

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Instant and cheap payments without going through a central authority

Dash is an open protocol that enables anyone, anywhere in the world, to make instant and cheap payments without going through a central authority. Dash is secured by strong cryptography and is based on a decentralized peer-to-peer network.

Dash offers a safe and user-friendly payment method without barriers, and it is important to say that Dash solves two of Bitcoin’s biggest problems: the speed of transactions and the lack of privacy.

Transactions with Dash are visible to the entire network in under 1.5 seconds, while this cryptocurrency cannot be traced, and the coin’s history cannot be accessed.

Low fees and instant transactions make Dash the preferred method of payment, and because of this, it is accepted globally by businesses of all shapes and sizes.

Dash is used around the world as a practical alternative to credit cards, and it is especially popular in regions where technical access barriers exist to traditional payment systems.

This open protocol does not face problems with bank holidays, exchange rates, bureaucracy, or hidden fees, and it is not under the control of any single entity.

DASH’s price has skyrocketed since January 2021 and reached levels above $490 on 7th May. Since then, the price has collapsed, but the current price represents a good entry point for investors who are more prone to risk.

The important resistance level for DASH stands at $60

The cryptocurrency market is advancing this trading week, supported by the news that the U.S. economy was not in recession despite output slumping in the first half of the year.

The U.S. services industry unexpectedly picked up in July amid strong order growth while supply bottlenecks and price pressures eased.

Data source: tradingview.com

The important resistance level for DASH stands at $60, and if the price jumps above this level, it would be a signal to trade this cryptocurrency, and the next target could be $70.

The strong support level stands at $40, and if the price falls below it, the next price target could be at $35.

Summary

The cryptocurrency market has been advancing last several days, Bitcoin has stabilized above $23000, and this situation also positively influences the price of DASH. The important resistance level for DASH stands at $60, and if the price jumps above this level, it would be a signal to trade this cryptocurrency, and the next target could be at $70.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

  1. Etoro, trusted by over 13m users worldwide. Register here >
  2. Capital.com, simple, easy to use and regulated. Register here >

*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.