Dash Price Jumps 2% But Rolls Back To $26.88

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Dash is back in the green on Tuesday as traders turn from prominent cryptos like Bitcoin and Ethereum to capitalize on FOMO alt coins that surge despite the bear market. On-chain analytics platform, Santiment in a recent post on X (formerly Twitter) reckoned that discussions around Bitcoin have dropped to a three-month low as traders “look elsewhere” for relief pumps.

🗣️🤑 #Bitcoin's ratio of discussions compared to #altcoins has just hit a 3-month low as traders look elsewhere to #FOMO in on #crypto pumps. Smaller projects like $LOOM, $CREAM, and $SXP are seeing surges in chats, which typically indicates market greed. https://t.co/1WaB9rKRSp pic.twitter.com/tcIodzGPaf

— Santiment (@santimentfeed) September 25, 2023

Unlike the gloomy bearish outlook hovering across the market, Dash is up 1.4% to $26.88 supported by $16.4 million in 24-hour trading volume and $309 million in market capitalization.

Dash Price Jumps Following New Listing

Dash price pushed out of a narrow range channel as investors celebrated a new listing on Exolix exchange, a platform that stands out for profitable, secure, and privacy-oriented swaps featuring more than 500 cryptos.

🚀 $DASH is now available for exchange on Exolix 🚀
@Dashpay provides full transaction anonymity and security, low fees, and lightning-fast transactions through InstantSend, enabling transactions to be processed in just 1.5 sec⚡️

Get $DASH quickly and without KYC:… pic.twitter.com/EwA5UPgRuF

— Exolix (@exolix_com) September 22, 2023

A new listing implies that the token is exposed to a wider market. It also signals that adoption is growing.

Although Dash had been trending higher from its September support at $24.3, a rejection at $27 curtailed the bullish outlook. As support at $26 came in handy, the listing on Exolix reinforced the bullish grip paving the way for another run-up that was able to briefly weaken the seller congestion at $27 before coming to a sudden stop at $27.4.

Dash price chart — DASH/USD four-hour price chart | Tradingview

Despite the rejection and Dash rolling back to trade at $26.88, the Moving Average Convergence Divergence (MACD) indicator upholds the bullish outlook. As the blue MACD line crossed above the red signal line, the odds flipped in favor of a bullish outcome.

Besides, Dash sits above all three major moving averages, starting with the 200-day Exponential Moving Average (EMA) (purple) – in line to absorb the selling pressure at $26.74.

If a sell-off ensues due to profit-booking activities, Dash would drop to seek support at the 50-day EMA (red), the ascending trendline, and the 100-day EMA (blue).

Based on the prevailing technical outlook and the dilapidated crypto market structure, a sustained breakout above $27 might not materialize. Instead, Dash could retreat into the range channel with the lower limit support at $26 and the upper boundary resistance at $27.

Trading Dash profitably calls for traders to monitor the token’s reaction to certain key levels like the daily open at $27 and the daily point of control (POC) at $26.88. A natural slip below these key price points would hint at another dip before Dash can rebound again.

Based on the daily chart, the weekly open at $26.35 could help keep Dash in the range channel, as bulls collect more liquidity to build momentum for the next breakout targeting highs above $27 and subsequently to $30.

The MACD on the daily timeframe confirms the validity of the uptrend but Dash lacks the momentum or a catalyst to propel the price to higher levels.

Losing the buyer congestion area at $26 (range channel support) could throw bulls out of balance. Investors who bought the token following the dip to $24.3 earlier this month may consider selling – a situation that may trigger a bigger sell-off.

Support areas below the range channel include the previous week’s open at $25, September support at $24.3, and the primary buyer congestion zone at $20.

Dash Alternative To Buy – Bitcoin BSC

The crypto winter has a way of paralyzing investors. However, it does not have to be a constantly gloomy affair if investors consider diversifying their portfolios with new tokens with the potential to earn a good return on investment.

One such crypto project is Bitcoin BSC (BTCBSC), bringing together an innovative combination of the historical value of Bitcoin and another cutting-edge blockchain, the BNB Smart Chain (BSC).

Holders of this token will have access to an eco-friendly staking mechanism, not to mention the added perks of launching Bitcoin on the BNB Smart Chain like faster transaction speeds, lower fees, and transaction confirmation in just five seconds.

Exploring the benefit of #BitcoinBSC on the BNB Smart Chain! 🌐

Built on #Ethereum's secure code, it offers robust security and smart contract capabilities, making it a game-changer for the #CryptoCommunity. 🔒 #BNBSmartChain pic.twitter.com/eulGIV9x89

— Bitcoinbsc (@Bitcoinbsctoken) September 25, 2023

“Instead of conventional mining, holders of $BTCBSC can earn passive income through staking, with the rewards scaled to the number of tokens staked and tied to Bitcoin’s original block reward mechanism,” the BTCBSC whitepaper states.

Bitcoin (BTC) is too expensive for the majority of investors despite the correction from an all-time high near $70,000. However, the BTCBSC is offering you a chance to go back in time to 2011 and buy Bitcoin at $0.99.

Like Bitcoin, BTCBSC’s total supply has been set at a maximum of 21 million coins, where 6,125,000 are up for grabs during the presale. So far, $5.3 million has been raised selling 1 BTCBSC coin for $0.99.

Participating in the presale has no complexities with investors required to have a crypto wallet loaded with either BNB or ETH.

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