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Dashcoin - Continues to Fall Lower Below $140



Dashcoin - Continues to Fall Lower Below $140
In the last few weeks Dashcoin (DSHUSD) has been sold off strongly again although it appears to be receiving some support for the moment at around $135. With this support Dashcoin has been able to temporarily stop the rot and consolidate a little after remarkably almost halving in price in the last month or so. Throughout most of July Dashcoin was able to consolidate in a range roughly around $240 after falling so sharply throughout May and June. Recently with the support around $135 the markets will be watching closely to see if it can regain lost ground and stay above this level. In the middle of July, DSHUSD enjoyed a strong rally higher moving to a one month high near $285 before the recent strong decline.

May and June saw Dashcoin fall strongly losing 50% of its value in that short period, from the peak around $525 in early May to trading levels around $220. Throughout April, DSHUSD rallied very strongly off support at $280 to the peak above $500, however these gains have been few and far between in 2018. In December the price of one dashcoin (DSH) reached a new all-time high of just over $1,530, according to Coindesk.

To say that DSHUSD has struggled this year is an understatement. For the most part it has formed lower peaks and lower troughs although some levels on the way down have provided reasonable support. It is currently the $135 level than many market participants are watching as DSHUSD to see if it can maintain its price above this level.

Opinion remains fairly and squarely divided over the various cryptocurrencies including Dashcoin and their legitimate place in the world.It appears like others, Dashcoin is attempting to establish itself for legitimate purposes and provide an alternative form of currency for normal every day transactions.Dash recently announced its partnership with Kripto Mobile Corporation (KRIP), which is a mobile brand that produces cryptocurrency-supported phones.The partnership is to provide Latin Americans with a novel and inexpensive way of obtaining and adopting cryptocurrencies for their day to day transactions.They will be able to easily acquire, store or send virtual currencies.The KRIP phones will come preloaded with a Dash ecosystem, which will include a Dash wallet that would allow users to send and receive funds through other partner apps such as Bitrefill.Bradley Zastrow, Dash Core Group Head of Global Business Development said, “We all know that fiat payments take too long and cost too much, and that cryptocurrencies have the potential to affect real change, especially for people experiencing hyperinflation where cryptocurrency is less volatile.”

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This post was written by Graeme Watkins

CEO Valutrades Limited, Graeme Watkins is an FX and CFD market veteran with more than 10 years experience. Key roles include management, senior systems and controls, sales, project management and operations. Graeme has help significant roles for both brokerages and technology platforms.