This Week’s Cryptocurrency Trade is DASH which has a market cap of $594.6 million and is ranked number 75 on Coinmarketcap.
Dash is a so-called privacy coin and is short for “Digital Cash”. Dash is one of the first coins and was launched back in January 2014 as a fork of Litecoin (LTC).
After a months-long slide downward from a high of $138 to a low of $38, Dash finally seems to be bottoming out. Meanwhile, the path upwards has been reluctantly started, with $60 being a major hurdle to be cleared.
Currently, the crypto market is in stall mode and waiting for positive momentum. Nevertheless, it is a good sign that Dash has broken out above 8, 21, 35 and 55.
However, the volume is not yet convincingly high, although of course that could change if the price continues to move up. First price target is $80 and the second price target $100 with a stop-loss below $40.
PS) For our crypto portfolios, we have now included this coin in our portfolio.