Dash [DASH] climbed 17.5% on Coinbase as traders turned their attention to another crypto associated with private payments.
The rally took DASH to its highest price since May and followed hard on the heels of a powerful run by Zcash [ZEC] – perhaps showing the increased interest in privacy-focused assets that is spreading out through space.
DASH returns to its May highs
DASH opened the day at $47.46, climbed as high as $56.85 and was near $55.76 when the chart was last looked at.
The jump followed a noticeable increase in trading activity. A rise in trading activity has been experienced; a measure of when money is moving in and out of the asset also experienced a similar increase supporting its move to the upside, suggesting the move supported its position.
The spike in price of DASH is now up about 85% from its mid-August level near $30, and the move follows the privacy-related crypto assets that have also gotten a fresh round of attention lately, with ZEC recently surpassing $1,000 and entering the top ten in market cap for the first time.
There has been no confirmed major project announcement, meaning the gain looks more like a market rotation than any individual reason.
Can buyers keep DASH above $55?
The area between $55 and $57 may decide whether the rally continues or not, because DASH reached this region twice in May but was unable to remain there.
Moving beyond $57 could place $60 within reach. But falling below it may make traders who bought at lower prices sell to secure their profits.
The chart also shows that DASH has seen a sharp rise. This does not mean it will see an immediate decline, but rapid gains like that often bring larger price swings as buyers and sellers compete around a previous high.
If the price begins to retreat, $48 is the first area where buyers may attempt to stop the decline, and a larger pullback could return DASH towards the $43–$44 region.
Final Summary
- DASH rose 17.5% to its highest level since May as buying activity increased.
- The token now faces resistance near $55–$57 after gaining roughly 85% since mid-August.