If we look at how the market capitalization of the crypto market has shifted slightly towards the upside over a day, it clearly shows that the market is slowly approaching the area that is out of bears’ control.
Bitcoin, over the last one week, has been through a full cycle of volatility as the coin, for once, declined below the key supports of $9,000 to again bounce above $9500. While a majority of altcoins are trying to match their pace with Bitcoin, a few are struggling to break their sluggish range-bound price pattern.
However, amid such uncertain Crypto market, altcoins like DASH are putting their hundred percent to improve their position in the space. As we are heading towards an end of the third month after the devastating market crash of March, Let’s see how Dash has spent the month of May.
Dash Price Analysis
The price trend of DASH/USD over the last couple of days depicts a few higher highs, which shows that the coin may see noticeable price momentum on the upside. In the middle of this month, the altcoin faced stiff rejection at $78. Now, with a mildly bullish bias, Dash price is approaching the 50% fib level. While the coin is busy in fighting bears, it is actively looking forward to serving its user base in a better way.
Dash has recently involved in a partnership with ReadyRaider, a well-known eSports platform. As part of this collaboration, Dash will be jointly sponsoring tournaments while it remains the exclusive form of payment here. Dash’s bullish nature might be owing to this partnership.
For gaming platform @GetReadyRaider, #Dash was an easy choice for payments due to its technology and community. @Dashpay‘s security and instant settlement via ChainLocks with instant respendability was essential for competitive eSports gamers!
— Dash (@Dashpay) May 19, 2020
Coming back to the chart, the DASH price is about to cross the 200-day EMA line. The MACD indicator is already in the positive area, and the simple moving averages are yet to see a bullish crossover.