- Dash stays in the green amid general market retracement.
- Dash bulls target $100 psychological as long as they can break above $80.00 resistance.
Dash is the bull among a sloth of bears. The digital asset has sustained the gains in spite of the entire market trimming the gains. Cryptocurrencies spiked incredibly over the last weekend ending a period of devastating declines and low trading activity. The volatility seems to be back but Dash is currently giving a blind eye to record gains while all the top 20 digital assets stay in the red.
After it reclaimed the position above the resistance turned support at $74.00, DASH/USD pulled up further above $76.00. In fact, at press time, it is trading $79.389. It is only a matter of time before Dash jumps above $80.00. According to the technical levels on the chart, a correction above $80.00 will pave the way towards $90.00 and eventually bring the psychological $100 in sight.
For instance, the Relative Strength Index (RSI) in the 2-hour range has reentered the oversold region to show that the bulls have the control and will continue to influence the direction of the price in the short-term. The Moving Average Convergence Divergence (MACD) in the same range is heading north. The forming engulfing candle will soon break above $80.00.
In the event a reversal occurs, Dash will find refuge at $74.00 and the support zone at $66.00 but before that, the trendline support will try to limit the losses.
DASH/USD 2-hour range
Dash registers growth amid bearish trend, even as the virtual asset outperforms major coins
Dash continued to improve its growth in 2019 and according to their official Reddit blog, Dash enjoyed a lucrative week.
It was indicated that Dash had outperformed a total of 8 major coins in the past week. Simple moving average [SMA] of 47% was registered; with Dash outperforming 4 of the top 10 coins.
The Broad Competitive Basket score can be viewed in favorable terms since the collective score was well above 30% (in terms of the SMA).
Recently, Dash also announced the release of their new Dash Core v0.14.0.3, a new form of wallet, after it was reported that Dash was hit by another “stress test or attack”.
Dash’s official medium blog revealed that the network witnessed an “abnormally” high load on its network which was later identified to be artificial, and suggested that it was either an attempted attack or stress test.
The post revealed that some masternodes had crashed due to insufficient storage space in the network after random masternodes restricted others nodes after the increasing load was witnessed.
At press time, Dash was valued at $93.10 after dropping down to 16th in the ranking, following Chainlink’s massive 3.70 percent hike in the past 24-hours.
Dash Upgrades Network After Suspected Vulnerabilities
Based on the announcement, Dash was hit with either an external stress test or attack during the week. Issues were later discovered including mempools not being emptied, a 1MB cap on blocks, masternode crashes. Others like masternodes banning other masternodes and delayed listings of transactions on some blocks.
“After contacting all likely community members who could have executed this and we discovered that none of them were involved. It appears that the artificial load on the Dash network was either a stress test by someone or was an attempted attack,” the announcement noted. The Dash network team ‘strongly recommended’ the masternodes to upgrade to the new version.
The post further said “the upgrade is strongly recommended for all Masternodes. It’s also recommended for all users, exchanges, partners and full node operators.”
New version to address issues
Dash Core version 0.14.0.3 is reportedly designed to address some of these issues. It also includes changes such as improvements to database space use and various signing failures.
In the new update, the developers addressed the issues by improving ‘database space usage.’ It also solved ‘DKG and LLMQ signing failures’ fixes and ‘signed binaries for Windows’ along with some other features.
News on Dash
In 2018, a United States-based fast-food chain restaurant called Church’s Chicken began to accept payments in DASH. This was at its South American branches in Venezuela. There are 10 Church’s Chicken restaurants in Venezuela, and all of them decided to accept DASH. The restaurant reportedly claimed that it was the first global fast-food restaurant to take crypto payments.
Dash is one of the eight cryptocurrencies that Coinbase is considering to list on its crypto exchange for trading.
With the spike in crypto prices, attacks on blockchain and even crypto-jacking have increased substantially. Yesterday, there were reports that a newly found crypto-jacking malware is mining Monero on victims’ computers.
Dash upgrades network amid fears of a possible attack, DASH/USD on course for six straight bearish days
- According to the developers, the network was either hit with an external stress test or an attack.
- This possible attack spiked the size of mempool from 17 MB to 46 MB and took hours to clear.
- Technical analysis shows that DASH/USD is currently undervalued.
Dash developers have released an upgrade called Dash Core v0.14.0.3, amid security concerns. The upgrade was released amid security concerns over a sudden spike in transactions on Dash’s mainnet. Dash’s official blog stated:
“Last week there was an abnormally high network load on the Dash network consisting of around a million 1 input 1 output transactions with a fee just higher than 1 duff per byte.”
According to the developers, the network was either hit with an external stress test or an attack.
“After contacting all likely community members who could have executed this and finding that none of them were involved, it appears that the artificial load on the Dash network was either a stress test by someone outside of the Dash developer community or was an attempted attack.”
As per Dash, this possible attack spiked the size of mempool from 17 MB to 46 MB and took hours to clear. The developers addressed the issues by improving ‘database space usage,’ and including ‘DKG and LLMQ signing failures’ fixes and ‘signed binaries for Windows,’ along with some other features. The Dash masternodes have been strongly adviced to upgrade to this new version.
DASH/USD daily chart
DASH/USD went down from $93.55 to $92.53 this Saturday, following six bearish days in a row. The price fell below the 20-day Bollinger band this Wednesday. Since then, DASH/USD has been hugging along the outside of the lower curve. The 20-day Bollinger jaw has widened, which indicates increasing market volatility. The 200-day simple moving average (SMA 200) is about to crossover the SMA 50, which will chart the highly bearish death cross pattern.