What to know:
- DASH price rises 7.25% as bulls challenge a major daily trendline, raising the possibility of a breakout.
- DASH could target $65 if buyers secure a high-volume daily close above the key resistance trendline.
- Dash launches a Zcash-powered shielded pool, adding zero-knowledge privacy that strengthens network anonymity.
The DASH price is coiling against a pivotal daily trendline, signaling a potential breakout from months of bearish momentum. Simultaneously, the network launched a mainnet upgrade featuring a Zcash-powered shielded pool, bringing zero-knowledge transaction anonymity and one-second settlement finality to the platform.
At the time of writing, DASH is trading at $35.01 with a 24-hour trading volume of $82.03 million and a market capitalization of $448.63 million. Following the 7.25% gain over the last 24 hours, the Dash price structure and network growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: DASH Price Eyes $460 Breakout as Bullish Reversal Pattern Gains Momentum
DASH Prepares for Massive Trendline Breakout
According to the crypto analyst Prof. Clifton, the DASH price is coiling tightly against a pivotal diagonal resistance trendline on its daily chart. Technical analysts are closely monitoring this key structural ceiling as price action compresses.
A decisive break above this barrier, backed by strong buying volume, would officially invalidate months of bearish pressure and signal a major trend shift.
Source: Prof. Clifton’s X Post
If bullish pressure on the DASH price manages to push the daily candle close beyond the trendline, then DASH may see a quick uptrend expansion towards $65.
Such breakouts typically tend to result in massive liquidity and a fast move towards higher targets. Traders are currently positioning themselves for what may mark the beginning of a multi-week trend move.
Dash Launches Zero-Knowledge Privacy Upgrade
The data from Dash further highlighted that with Dash being the first privacy-oriented cryptocurrency, it has now introduced the biggest update that has ever happened to the platform, which includes the introduction of a Zcash-powered shielded pool onto its network.
Thanks to the use of complex zero-knowledge proofs, this network redesign makes it impossible to trace anything about transactions on the legacy network.
Combining the zero-knowledge privacy technology with its Masternode consensus layer, Dash ensures that all transactions have a permanence of one second only.
Without any sacrifice in terms of security but by removing the usual settlement period, Dash Core Group is actively calling out to wallets, exchanges, and merchants to adopt this new form of transaction.
Following the bullish price predictions and network expansion, the DASH price is moving in an upward direction. This move is also backed by the improving momentum in the crypto market as Bitcoin has started to move upward.
What Comes Next?
After the technical breakout, the DASH price moves into a critical validation period. The immediate concern of traders is validation of a high-volume daily close above resistance in order to create upward momentum.
Adoption from here will require support from exchanges, wallets, and merchants through inclusion of the new Zcash shielded pool.
Also Read: DASH Price Eyes 40% Rally to $42.15 as Orchard Upgrade Boosts Bullish Outlook
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Be the first to comment