Down, Not Out? Dash Price Likely to Defend $600

Dash is shedding gains at press time, but looks set to defend $600 levels.

As per CoinMarketCap, the world’s fifth largest cryptocurrency by market capitalization is trading at roughly $685 – down 9.3 percent on the day – after rising to an all-time high of $826.95 at 09:59 UTC.

Also notable is that trading volumes have hit a record high of $4.84 billion, suggesting the rally might be here to stay.

A look at the individual markets shows that the rally is being fueled by Korean desks. Trading volume in DASH/KRW pair offered by Bithumb, one of the largest exchanges in South Korea, has gone up 30 percent in the last 24 hours.

One reason may be the asset’s positioning in the news, with groups associated with the protocol announcing earlier this week they would partner to help solve Zimbabwe’s economic crisis.

But whatever the reason, price chart analysis also favors further upside, albeit after a healthy technical correction to $600 levels…

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