• During the early European session, the DASH/USD plunged to the $232 level, losing -1.72% so far. 
• Powell: There’s no reason to believe the fundamental disinflationary reasons have suddenly turned, and inflation is likely to continue to be a drag. 
• Forex trading participants may look for a buy trade above the $225 level to the target of $249 and $265.

During the early European session, the DASH/USD plunged to the $232 level, losing -1.72% so far. On the day before, the DASH/USD closed at $231.70 after placing a high of $264.63 and a low of $230.60. DASH/USD fell sharply on Thursday following the recent market sell-off driven by the declining prices of the leading cryptocurrency BTC/USD. If you are wondering what to expect and where to buy DASH, let’s find out below…

Dash Supported Amid Platform v0.20.

The DASH/USD has been moving in a bullish trend for the past two months. However, the cryptocurrency accelerated its upward trend in August after the launch of Platform v0.20 on Testnet. Moreover, another feature of buying Dash through a VISA credit card from the mobile wallet app also extends some support.

Dash integrated Liquid’s Quick Exchange into the Android App.

Dash has recently integrated Liquid’s Quick Exchange into Dash’s Android mobile wallet application. Customers will buy DASH straight from their Dash wallet to use a VISA credit card, accepted in over 100 nations and 50 currencies.

Liquid’s Quick Exchange was created to make buying and trading cryptocurrencies as simple as possible. The purchase of DASH cryptocurrency from Quick Exchange will give users a price quote in their national currency or any other currency if selected from 50+ fiat currencies. The new integration of liquid’s quick exchange into the Dash android mobile wallet app added further gains to DASH/USD and pushed it higher.

Powell: Monetary Policy in the Time of Covid

The declining prices of the currency pair DASH/USD were also because of the rising prices of the US dollar. The greenback advanced after the US Dollar Index surged to 93.08 ahead of the Jackson Hole symposium. The increasing US dollar price added weight to the DASH/USD cryptocurrency because it negatively correlates.

Federal Reserve‘s Powell: there’s no reason to believe the fundamental disinflationary reasons have suddenly turned, and inflation is likely to continue to be a drag. As a result, the dollar is showing a mixed performance. 

The University of Michigan released the Revised UoM Consumer Sentiment. However, the data is flat at 4.6%, and it has not shown any changes to the dollar so far. 

Dash Price Prediction – Technical Levels

Support Resistance

219.99 254.02

208.28 276.34

185.96 288.05

Pivot Point: 242.31

DASH/USD Supported Over $225 – Where to Buy?

The Dash price prediction remains bullish above the support level of $225. On the 4-hour chart, the DASH/USD pair’s upward trendline is extending solid support at the $223 level. Closing the tweezer’s bottom pattern above $223 supports strong chances of a bullish trend continuation in DASH.

On the bullish side, the pair may find the next resistance at the $249 level, and a bullish crossover of this level could lead the pair towards $267. In contrast, the breakout of the 223 support zone could trigger a strong selling trend until the 199 support level. Below this, the double bottom pattern will extend another support at 185.

On the 4 – hour timeframe, the 50 day EMA (Exponential Moving Average – Red Line) holds at the $250 level, demonstrating a selling trend. Moreover, the Stochastic RSI indicator is also in a selling zone, as its value is 18. Both the leading and lagging indicators are in support of the selling trend. However, it won’t be a good idea to open a sell trade unless the upward trendline is violated at $225.

Accordingly, forex trading participants may look for a buy trade above the $225 level to the target of $249 and $265. Alternatively, we can place a sell-stop below $225 to target $199 and $186 levels. All the best.

Where to Buy DASH/USD?

You can buy it on eToro. It’s one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.

Looking to buy or trade crypto now? Invest at eToro!

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