Dash is one of the best cryptocurrencies to watch in May 2021. As of this writing, it has a market cap of $2,890,073,368 and a circulating supply of 10,106,516 DASH. In the last 24 hours, DASH worth $677,977,239 exchanged hands. It is worth noting that DASH has a maximum supply of 18,900,000 coins and a total supply of 10,106,516 DASH. These figures put the cryptocurrency at #50 according to CoinMarketCap. In this Dash price prediction, we’ll look into more aspects of this coin to help users make an informed decision.
Dash Price Prediction: Analysis
One of the crucial factors that shape Dash price prediction is its technical analysis. The technical analysis provides insight into the coin’s past performance and fluctuating pattern, which can help in determining the future price.
At the time of writing, DASH is valued at $286.19, which is more than a 300% increase from its price at the beginning of the year. This is a remarkable spike, which points to an upward trend in 2021. However, $286 is not the highest point DASH has attained this year.
On February 25, DASH reached $234.56, driving many analysts and enthusiasts to believe that it would hit $600. This idea was based on its Relative Strength Index (RSI), which pointed to an overbought region. However, this high was short-lived as the, DASH price retreated to $214 by the end of March.
At the beginning of April, DASH price assumed an upward trend that culminated into a high of $341.6 on April 16. Despite starting the year on a bearish note, DASH has witnessed a significant surge, which makes it a potential coin for investment. All the same, this is still far from its all-time high of $1564.8 on December 21, 2017. This shows DASH still has more room for improvement.
Based on its recent performance trend, the future looks bright for DASH. According to Walletinvestor, a crypto price-forecasting website, the following are the pivot, resistance, and support levels that traders should observe when trading DASH:
- Resistance Level (R3): 316.410;
- Resistance Level (R2): 304.526;
- Resistance Level (R1): 298.583;
- Pivot Point: 286.699;
- Support Level (S1): 280.756;
- Support Level (S2): 268.872;
- Support Level (S3): 262.929.
The upward trend of the DASH price could depend on different reasons; one of them is establishing partnerships with different payment systems. It also depends on its collaboration with both small and big businesses. With successful collaboration, DASH could be more widely adopted because it’s simple and accessible.
Moreover, DASH is one of the coins that focus on privacy. While few partners were willing to integrate it into their systems, this seems to be changing. Earlier this year, thousands of merchants in the crypto space have accepted DASH in their systems. About 155,000 businesses plan to offer DASH as a payment method in the future.
Additionally, the Dash Investment Foundation (DFI) has collaborated with the reward platform CrayPay. This partnership with CrayPay will allow users to earn rewards for purchases made through particular platforms. They can then redeem the rewards at any of the 155,000 merchants.
Part of the agreement was that CrayPay would be available to DASH holders in a special white-label version. Consequently, it would be useful to process payments in DASH and even use the cryptocurrency for purchases in the future.
Dash Price Prediction: Market Opinions
According to the latest predictions, the outlook for DASH is promising. The following are some of the market opinions derived from notable prediction sites. Some platforms believe DASH will reach its annual peak in December at a potential maximum price of $462.83. While the coin might experience a drop in the middle year, its performance trend is more encouraging for traders with a long-term focus.
Walletinvestor’s Dash price prediction is that it is likely to crash in the future. Based on its price as of this writing, Walletinvestor expects a drop from $286.19 to $280.06. This would create a change of -0.426%. Overall, the DASH price target in the next 14 days is as follows:
|Date||Price||Min Price||Max Price|
According to Longforecast, the coin is expected to begin May at $348. They anticipate DASH to attain a maximum price of $373 and a minimum price of $210. Also, the website said that the average price for DASH could be $312.
Coin Price Forecast
Coin Price Forecast consider that DASH price is expected to surge in the coming days. The platform foresees the price to hit $375 by May 15 after reaching $299 on May 1.
According to the Italian crypto platform, the DASH price may hit $419.66 in May 2021. They support their prediction with the assumption that DASH may experience mass adoption in the coming months. Moreover, they expect a rise in DASH market capitalization, leading to an increase in value per coin.
Dash Price Prediction: Verdict
Like every digital currency, Dash price prediction can depend on several factors. If you’re looking to invest in this particular coin, you should know what these factors are. This can help you decide if you need to hold your portfolio for a longer time profit from short-term price fluctuations.