Dash Spikes Over 5%, Outperforming BTC, ETH And XRP Today

In the altcoin news and rumors today, we can see that the price of Dash spikes over 5% and is one of the best gainers in this morning, leading the recovery among the top 20 cryptocurrencies. DASH/USD is breaking out and the pair lags beneath the resistance at $70. However, technical indicators suggest that gains above $80 are very possible.

As the biggest single-digit gainer on Friday during the Asian session, Dash spikes over 5% and is up by 2.23% on the day, leading the intraday recovery in comparison to Bitcoin and its 0.08% change which is not worth mentioning in the Bitcoin news. Ethereum has moved by 0.53% only, while XRP did the same moving by 0.54%. It is clear why the momentum lies in altcoins right now – and the Dash news prove that.

Other cryptocurrencies performing relatively well include Bitcoin Cash (which is up by 1.16%), Bitcoin Gold (up 1.66%) and Litecoin (up by 1.11%). As Dash spikes, we can see that the trading pair recently hit a wall at the 38.2% Fibonacci level taken between the last high at $144.58 and the low at $33.36. The rejection, however, found balance at 23.
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6% Fibonacci which is precisely at $60. For over a week, Dash has been range-bound between these two Fibonacci levels.

The ongoing bullish action has stepped above the moving averages, where we can see the 50 SMA and the 100 SMA in the 4-hour range in a position to function as support lines. The DASH/USD pair is trading at $69.05 and a break above $70 is required to pave the way for gains above $80 as well as allow the bulls to focus on higher levels and aim at $100.

As Dash spikes over 5%, many possibilities are on the table. The action behind the coin is also supported by the RSI’s rise into the overbought region. Anyways, Dash is now part of the top 20 largest cryptocurrencies and with a current price of $69.17, it only confirms a 4.93% increase today, outperforming plenty of other coins in the list.

Meanwhile, we can also see that Bitcoin is strengthening up and may prepare to go above $7,000 today just like Ether (ETH) is ready to overcome the $145 mark and XRP wants to clear $0.19 and then $0.20. All of these levels are important to break in the market this month.