DASH Price Analysis 14 May 2019: Bullish trend forms

Much like every other cryptocurrency out there right now, yesterday’s market experience for DASH was in the process of forming a major bullish trend. In fact, DASH is one of the few coins in the top 20 which was able to retain said bullish trend and is advancing without any serious resistance.

Yesterday, the resistance level of $136 was overcome and the coin entered a whole new array of price possibilities. However, the continuation did indeed prove to be tough to handle and DASH tumbled just a little bit but quickly regained momentum.

However, the quick drop in the late hours of May 13th was worrisome as bulls started to pack their positions, a new trend quickly opened and continued to the arguably largest price we’ll see today. Over the course of 6 hours, the coin managed to increase by nearly 20%, overcoming the expectations of many.

DASH chart

DASH chart by TradeView

But over the course of May 14th, it has “calmed down” a bit and has been corrected. However, the coin still remains in a bullish trend and still has the potential of delivering another 20% rush in the positive.

In fact, another resistance level has been broken by the bulls today, which was the $135 mark. Currently, the coin is being traded at $140 a piece and is hovering way above market expectations. Should the coin break yet another resistance level, which is at this point at $145 per coin, it can confidently start its journey towards $160 by the end of the week.

It needs to be considered that the traded volume of DASH depends heavily on the situation in Venezuela. The political atmosphere has been quite dormant so far, therefore the coin has been benefiting from relative freedom. But should another major even occur, which would disrupt the country’s digital systems, it is expected to see DASH fall from the bull trend.