DASH gains 20% on a daily basis amid partnership with Kripto Mobile Corporation

DASH is the 13th largest digital coin with current market value $1.4B and average daily trading volume $334M, which is twice as big as on Sunday. DASH has jumped over 22% in the recent 24 hours and touched $190.34 late on Monday before retreating to $178.22 to press time. 

General positive momentum on the cryptocurrency market creates a positive background for DASH; however, the secret of the explosive growth lies with DASH and Kripto Mobile Corporation [KRIP] partnership deal. KRIP produces mobile phones with cryptocurrency functionality and pre-installed DASH ecosystem, including the wallet. The devices were presented during the conference in Caracas as the company believes, they will provide the Latin American community with an inexpensive way of buying and using cryptocurrencies for their day to day transactions.

“We all know that fiat payments take too long and cost too much and that cryptocurrencies have the potential to affect real change, especially for people experiencing hyperinflation where cryptocurrency is less volatile,” Bradley Zastrow, the Dash Core Group Head of Global Business Development commented.

DASH technical picture

The first strong resistance comes at $199.20 (DMA50), followed by psychological $200 handle and $238.27 (DMA100). On the downside, the first support is created by $171 (Tuesday's low), followed by $140.73 (Monday's low). Once the price returns to the levels registered at the beginning of the week, the upside momentum will be over.