Dash Market Update: DASH/USD bulls have not lost sight of the $140 target – FXStreet


  • Dash price sustains an uptrend within a rising channel after the bounce from support at $90-$100.
  • Dash now enjoys support in over 11,000 ATMs in Mexico following a partnership with Tauros.

Dash bulls are working hard to keep the bears at bay. This follows a retracement from Tuesday high at $128.36. In spite of the correction, the uptrend has remained intact within the confines of an ascending channel whose support and resistance have been tested a few times.

Data provided by CoinMarketCap shows Dash trading 4% higher in the last 24 hours. Dash is the 15th largest cryptocurrency in the industry with a market cap of $1.1 billion. A 24-hour trading volume of $1.3 billion has been posted by the listed exchanges.

Dash supported in over 11,000 ATMs in Mexico

Dash continues to gain adoption around the world, especially after its breakthrough in Venezuela. The recent support will see the token, DASH supported in more than 11,000 ATMs in Mexico. The support has been made possible following a partnership between Dash Pay and a crypto firm referred to as Tauros. The new service will enable users to buy DASH using the Mexican Peso. Ryan Taylor, the CEO of Dash Core, said with regards to the partnership and support:

“[The Bitcoin ATMs] Infrastructure that can continue growing our Latam [Latin-America] remittances strategy going forward and help expand our use for payments in Mexico, even among the unbanked. This is another great partner for Dash.”

Dash price technical picture

Dash is trading 2% higher on the day and has a market value of $123.64. Technical indicators such as the RSI show that sideways trading is likely to take center stage. The indicator failed to breach its way into the overbought region but it is moving sideways and holding the position at 66.

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Despite the sideways trading, Dash is largely in the hands of the bulls as seen with the two-day bullish session of the Elliot Wave Oscillator. As long as the channel support is guarded, Dash will have the potential of jumping above $130 and moving towards the $140 key resistance zone. On the downside, other support levels to keep in mind are $120, $110, the 50 SMA, the 100 SMA, and $100.

DASH/USD 4-hour chart

 



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