Dash price analysis: DASH/USD up 7%, next resistance between 61.8% Fibonacci, 100 DMA, $750

  • Dash seen up as much as 7% on Wednesday
  • Study suggests Dash is 3rd on list for accepted crypto by dark vendors on black market
  • DASH/USD approaching 61.8% Fibonacci and 100 DMA

 

The Dash price is holding on to decent gains on Wednesday, up around 7% and over 30% since the lows produced last week. On the fundamental side of things, flow is light currently from Dash, however moving higher in line with the general crypto market.

There was an interesting study last week that hit the wires, suggesting that more dark vendors on the so called black market, are accepting alternatives to Bitcoin. Dash was third on the list, after the likes of Bitcoin and Litecoin. The chief executive officer Ryan Taylor, did say “The Dash network is not aware of a single Darknet market that uses Dash on its platform,”

DASH/USD, has bullish momentum behind it, approaching the 61.8% Fibonacci at $735, further north the 100 DMA is seen at $781. Looking at support, a demand zone is seen around the $550 level, and then $390, 6th February low.

 

DASH/USD daily chart

 

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