Just like other major cryptocurrencies, the 19 January Dash Price Fundamental Analysis shows that Dash has started to recover with its price gaining to a high of $885. What has contributed to its recovery? Find out.
19 January, OctaFX – This week, the prices of most cryptocurrencies fell as reports emerged that South Korea would shut down exchanges. The news was significant because of the central role South Korean exchanges have in the cryptocurrencies ecosystem.
Dash was not spared. Its price fell from a high of $1200 to a low of $600.
19 January Dash Price Fundamental Analysis
On Thursday, Dash started to recover with its price gaining to a high of $885. Yesterday’s rise was not an isolated case. Most currencies gained as most traders moved to buy the dips.
Its rise was also associated with the company announced a new partnership with Arizona State University (ASU). The university will fund research by providing $350,000. Part of the funds will go into creating a Dash Scholars Program while others will go to blockchain course development.
Another part will go to funding a research lab that will work on improving the speed, efficiency, and security of dash. Traders were optimistic that such moves would improve credibility and use case of the currency.
As shown below, the currency is trying to find direction. The ADX indicator is currently at 19, which is an indication of a weak trend. Traders should watch out for a breakout above the weaker resistance level of $888.
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