An Uptrend is Instigated in Dash Price by One Exchange Bloating the Trading CapacityJuly 21, 2018
Just a few hours ago, it became clear that the cryptocurrency markets might completely witness some progressive momentum this weekend. Until now, that momentum has not conceded, though it has not grown much stronger either. The Dash price is presently enjoying a good spell of momentum, because its value already exceeded $255 once again.
The impolite fall from grace of the Dash price within this year has made countless of speculators and investors concerned and anxious. After falling $1,500 several months ago, the Dash price has immersed as slow as $209 in the past few weeks. It has been a steady drop for Dash, although one which is on par along with all the key cryptocurrencies. Withdrawing this momentum will take a lot of money and time.
Bearing that in mind, each short spell of positive momentum requires to be valued. For the Dash price, that great momentum has emerged in a solid 7.2% gain over the past hours. Dash is also considered as one of the toughest climbers in the cryptocurrency. It’s currently top 15 placed by market cap. And thanks to this sudden uptrend, the Dash price has exceeded $255 again successfully.
This push in value is also assisted by continuous developments in the BTC/DASH ratio. The specific ratio has improved by as much as 5.96% which is in favor of Dash. United with the current USD gains of Bitcoin, it has a positive effect on the overall Dash price. When both ratios sustain in the green throughout the weekend, the price per Dash may exceed $235 come Sunday evening efficiently.
As is the case in the cryptocurrency industry, no momentum will go scot-free. Although Dash profits from a raised trading capacity of $265.177 million, that volume could dry up at any given time. With the bulls in strong control of the market, it appears that everything is going the proper way for Dash. Nevertheless, weekends are at all times unbelievably unpredictable. All bets are off throughout this period of the week.
It would appear that the ZB.COM exchange is expanding the Dash trading capacity as of right now. The platform signifies 72.5% of every Dash trade over the past hours, which is considered rather strange. As such, it’s also the major reason as to why the Dash price is going high all of a sudden. Further, Huobi arrives in the third place, along with only $5.94 million in 24-hour volume. It will be somewhat interesting to witness how all of this plays out the approaching hours and days.
For those Dash price speculators, the existing momentum is much than welcome. Stuff have gone too well for at least six months straight. A brief reprieve will be valued, but everybody is searching for a long-term setback. Whether or not this is the start of the Dash price reversal, keeps to be determined. Plus, along with only single exchange dominating the volume, that appears extremely not likely.