DASH is about to relinquish another support with $19 in focus

• The dash blockchain enables online payments for over 10,000 digital merchants and retailers.

• DASH has dropped 2.25% in 24 hours, increasing support weakness.

• If the recovery fails at $ 40, the price could move up to $ 19.

DASH, the crypto token of the blockchain platform Dash, has declined by 2.25% in the last 24 hours. Cryptocurrencies have fallen by almost 75% this year. With most cryptocurrencies low, DASH still has room to fall.

Originally developed as a privacy blockchain, Dash has evolved to streamline online commerce. The project code was copied from Litecoin. This protocol was intended to enable more efficient and lower cost payments than Bitcoin. Blockchain improves transaction speed per second. Currently, Dash is a payment partner for at least 10,000 online merchants. On its website, Dash mentions payments in excess of $ 4.48 billion in the fourth quarter of 2021.

Growth in DeFi and digital transactions is a plus for DASH. However, DASH investors may have to put up with the bear market. This analysis found that DASH could find the next support for $ 19.

DASH is even weaker with $ 40 support

Source TradingView

As the MACD indicator shows, DASH is deep in the bare zone. Cryptocurrencies have not yet exceeded the 21-day moving average since November 2021. The current $ 40 price level is in the support zone, but DASH is showing signs of declining. If $ 40 is not retained, DASH may be settled at $ 19. This level is consistent with the price before Enciero was implemented in 2017. Investors should consider buying lower after the tokens have fallen further.

Overview

DASH holds $ 40 support. However, bearish momentum continues and cryptocurrencies may break: The price of DASH could settle next at $ 19, the lowest in five years. Investors have to wait to buy at a low price.