Dash Coin Analysis 09/03/2021this is an update of our initial analysis which we got the TP Achieved and now updating it with more descriptions
Dash is an open-source blockchain and cryptocurrency focused on offering a fast, cheap global payments network that is decentralized in nature. According to the project's white paper, Dash seeks to improve upon Bitcoin (BTC) by providing stronger privacy and faster transactions.
Dash, whose name comes from "digital cash," was launched in January 2014 as a fork of Litecoin (LTC). Since going live, Dash has grown to include features such as a two-tier network with incentivized nodes, including "masternodes," and decentralized project governance; InstantSend, which allows for instantly settled payments; ChainLocks, which makes the Dash blockchain instantly immutable; and PrivateSend, which offers additional optional privacy for transactions.
According to its website, the goal of Dash is "to be the most user-friendly and scalable payments-focused cryptocurrency in the world." To accomplish this, the project relies on a network of masternodes, which are servers backed by collateral held in Dash that are designed to provide advanced services securely and governance over Dash's proposal system. In exchange for part of the block rewards, masternodes provide a second layer of services to the network. They facilitate functions such as InstantSend, PrivateSend and ChainLocks.
Dash is marketed to both individual users and institutions, including merchants, financial services, traders and those who need to send international remittances. In October 2020, Dash Core Group reported that its strategic objectives moving forward include building its ecosystem and brand, ensuring that users are satisfied and further advancing the technology behind the network.
Dash's governance system, or treasury, distributes 10% of the block rewards for the development of the project in a competitive and decentralized way. This has allowed the creation of many funded organizations, including Dash Core Group. In addition, the Dash Foundation, which advocates for the adoption of the cryptocurrency, receives donations and offers paid individual and institutional memberships.
Technical Analysis:
as we can see this coin has past from the its Accumulation Zone and started its rally,
there exist a Hidden Bullish Divergence with MACD Histogram which is the sign of trend Continuation
earlier we had Projected Our Past Target using Fibonacci Projection Tool where the Price has Touched the 61.8% (Extension Level) and retraced back down to 100% or parallel legs, so we can be sure about the 161.8% of the same Fibonacci projection which is our 1 TP,
2TP is 261.8% of the same Projection and we can be optimistic about it when the price retraces from our 1TP and start its Major Impulsive wave.
