Dash Rises 25% In A New Short Term Bull Run

At the start of the weekend, Dash continued moving upwards alongside a strong buying sentiment period.

Last Wednesday, DASH/USD established a weekly low at 156.60-fiat and later the pair went through a recovery phase at 186.70-fiat showing crucial resistance during the next day trading session. In the past 24 hours, the pair managed to record a new daily high near 196.30-fiat.

The reasons for this rally can be found in the new membership that Dash made with Krypto Mobile Corporations, a South American startup. The mobile company integrated a Dash payment option for all the crypto-enabled mobile phones. This company is most active in financially weaker regions such as Latin America and especially Venezuela. Merchants will now have an option to choose Dash instead of the non-reliable Bolivar.

Dash is really popular in Venezuela and this is one of the reasons for partnering with a South American company.
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More than 3,000 merchants that are listed on the Krypto Mobile Corporation services, nearly half of them are from South America. It’s really important to note that Dash hasn’t shown a decline in adoption, unlike Bitcoin and Bitcoin cash.

The DASH/USD pair reached a new breakout point at 61.8 Fibonacci retracement level so now the market is waiting for the pair to test 200-fiat as a potentially new resistance point while finding a support level at 190.04-fiat. If the price breaks below this point, we could see a fall towards 170.67-fiat. Analysts advise that a long position right now looks a bit risky but if there is a breakout scenario, the pair could test 212-fiat as the next upper target.