How to Trade Dash Cryptocurrency

Good afternoon, ladies and gentlemen, crypto traders!

The project Dash initially became known as XCoin, but almost immediately was renamed to Darkcoin. The name Dash (DSH) was fixed only a year after launch. Dash is one of the 10 most promising cryptocurrencies, and like many other altcoins, it supports the idea of anonymity, security and high transaction speed. Crypto Dash in our today’s review: features of technical analysis, strategies and key secrets of trading with this tool.

Dash - alternative cryptocurrency

The developer of the altcoin, Evan Duffield, focused on the achievement of anonymity of transactions and the overall security of the network. To achieve this goal, 11 cryptographic algorithms were introduced into the protocol, which resulted in a characteristic name - the X11 algorithm.

Anonymity for Dash provides an integrated transaction mixer. This function is called Darksend and is connected separately. You can specify the number of rounds and coins for mixing. This significantly complicates the process of reverse engineering of the source of the transaction, and in conjunction with hiding the real IP address of the sender, creates a sufficiently strong level of anonymity.

Another of the pleasant features of the currency is InstantX technology, which allows you to conduct instant transactions. In the case of InstantX, the transaction is confirmed through 10 random intermediaries, called master nodes. Thus, the waiting time for the transaction is reduced to a few seconds.

Immediately after the launch of the currency, a serious problem was discovered, leading to an instantaneous mining. The error was corrected after two days. By this moment, about 30% of the total amount of crypto-currency has already been extracted. In general, as in the case of Bitcoin, the complexity of mining (the extraction of currency) grows exponentially. At the moment, more than 7 million coins out of 18 have been extracted.

Where to take the Dash chart

Dash trading is available from AMarkets terminals. In AMarkets, the size of the standard contract is 10 units of currency, and the minimum lot is 0.1. The DSHUSD currency pair is traded with a 1:5 shoulder, so a position of 0.1 lot will require about 120 $ of collateral.

Also, the chart of Dash quotes can be taken on the TradingView website, the ticker is DASHUSD (in addition, the Dash crypt graph can be found on our website in the online charts section). The service displays quotes from all major sites on which Dash is traded. On the chart, an example of quotes from the Poloniex exchange. In general, the popularity of Dash is steadily growing. So, in November 2017 Dash was added to the Chinese cryptocurrency stock exchange OKEx.

Trading Strategies

The global trend of Dash is strictly up. Over the past year, the rate has increased more than 50 times and now is on the fifth line by the parameter of capitalization. At the same time, the market value of Dash now significantly exceeds its closest competitors - Monero and ZCash, which have a similar algorithm of operation.

For trading, the daytime timeframe is best suited, to climb below the meaning is not enough - great volatility makes the pair a little usable for analysis by technical indicators and Price Action methods.

Well round the price levels themselves. Pay attention to the levels that are multiples of 50 - their price tests constantly, which is noticeable by the characteristic long shadows of the candles near the horizontal lines.

Periodically, on the DSHUSD chart, different tapering formations of different duration and complexity are formed. For example, the “Tapering Triangle” pattern is well traded for a breakdown, however, it is better to use an additional confirmation, for example, a breakdown of a round level.

Fibonacci levels work well. The price almost always bounces off the level of 61.8%. This allows you to more accurately predict the end of the correction to enter the market at a bargain price.

The Fibonacci grid can be applied at each wave level, and you will get the same and quite expected result.

The fundamental factor has a huge meaning in the movement of Dash quotations. For example, the news about the expansion of the infrastructure for accepting payments at offline locations, specifically, the establishment of partnerships with the BlockPay payment service, had a very positive effect on the Dash rate.

The excitement around the altcoin itself provokes an increase in trade turnover and an increase in trading activity. At the moment, the main turnover on the cryptocurrency is at the Poloniex exchange. We can say that the recent growth in the currency is associated with two main factors: positive news and the subsequent reaction of traders.

The project team also spurs exponentially growing interest in the currency. So, the advertising of crypto currency has already been noticed in the plane of one American airline, which is still a rarity for projects of such a kind - usually limited to advertising on the Internet. Perhaps, in this way, developers are trying to win the loyalty of the audience, not having any crypt wallets yet.

Conclusion

Dash cryptocurrency is a promising and actively developing project, the capitalization of which is one of the five largest in the world. The ideas behind Dash are definitely not new, but they meet all the trends and wishes of the crypto community. At the same time, Dash is of interest as a trading tool, since it allows you to work on classic and already well-developed tactics, without having to create something radically different.

Regards, Michael

ForexTraderPortal.com