Dash rockets as LTC surges- market shows positive movement

The coin rises by more than 20% and holds a spot near $42.
DASH was launched as a fork of Litecoin, which skyrocketed today by 30%.
Thirdwave raised funds backed by DASH.

DASH was launched as a fork of Litecoin in 2014, and as LTC catapulted by 30%, the price of DASH rose too. The market also responded positively as the news surfaced that Web3 and VR gaming studio Thirdverse raised $15 million in the latest funding round, some of which was backed by B Dash Venture. This was subtly promoted by their recent tweet. All factors accumulated, resulting in a boom. It earlier received a massive 8000% hike in its value in 2017 due to the evolution of digital payment, which could be one of the causes as the user community switches to decentralized protocols after the FTX meltdown.

As you may know, the $Dash network allows people to receive financing for projects from the DAO; today, I want to ask you:
If you had this opportunity, what would you propose and why?
— Dash (@Dashpay) November 22, 2022

The Photo Tale

The price underwent a breakout as its elder sibling, LTC, skyrocketed. The price moves closer to the upper range of the Bollinger band and may soon break out and rally higher. The price surges and crosses all EMAs to reclaim the 200-EMA. It also audiences highly volatile trading volumes, antonymic to the trend during the crunch. It may maintain a similar pace as the uptrend forms unceasingly.

The CMF indicator shoots to the zone above the 0-level, pertaining to the ongoing upsurge. The same pace will continue matching to the trend being formed. The MACD indicator diverges steeply with rising histograms. It may diverge further and record histograms painted in vibrant green. The RSI indicator shoots up, targeting the overbought zone beyond the 70-mark. It may reach the targeted zone, respecting the rally.

The closer timeframe

The price continues to rally and maintain the upward swing. The CMF indicator shoots up to the higher ranges and stands almost perpendicular. It maintains the rise as the surge continues. The MACD indicator diverges with a wider gap and sharply ascending histograms. It may widen and move in the bullish swing matching with the rally. The RSI indicator shoots to cross the bound and floats in the bounds of the 70-80, labeled as the overbought region. It may remain in the same bounds and continue to be overbought.

Conclusion

The accumulated effect of all factors together proved to be in favor for DASH as the market breakout of the cyclic depression and crypto winter. The good days are forthcoming as the market breaks the shackles of downtrend.

Technical levels

Support levels: $40.10 and $37.50

Resistance levels: $45.80 and $52.50

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.