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RE: DASH breaking through ATH and 60M marketcap

in #news8 years ago (edited)

Looks like a break above the upper trendline, which could portend a quick move higher. We could possibly see a doubling or even tripling of price in a short period of time if a strong wave higher develops. However, conditions are technically overbought at this point and if this rolls over, then the mania phase would be off the table. The strongest moves in crypto generally come during overbought conditions, so a strong rally would not be unexpected. The 20dma looks to be a good indicator here. A strong break below it would be bearish... or at least less bullish.

Rumors out of the latest bitcoin scaling conference indicate that very little progress was made on the on-chain scaling front. No new developments in hard-forking to raise the block size limit or segwit have been made it appears. Perhaps this will bode well for Dash.

Also, buy-side depth looks pretty good on Poloniex. Some of those large orders could be fake, as is sometimes the case, but only time will tell.

Disclaimer: None of this is advise of any kind.