Dash jumped 17.5% on Coinbase, reaching its highest price since May as the privacy coin rally that lifted Zcash spreads to other assets. Traders now watch whether DASH can hold above $55, a zone that rejected two rallies in May.
Dash climbed 17.5% on Coinbase as traders turned their attention to another crypto tied to private payments. The move pushed the token to its highest price since May and followed a powerful run by Zcash.
DASH returns to its May highs
The token opened the day at $47.46, climbed as high as $56.85, and traded near $55.76 when last checked. The jump came alongside a rise in trading activity, and a measure of money flowing in and out of the asset increased in step, supporting the move.
That spike leaves DASH up about 85% from its mid-August level near $30. The move follows a broader run in privacy-related assets, with ZEC recently surpassing $1,000 and entering the top ten in market cap for the first time. There has been no confirmed major project announcement, so the gain looks more like a market rotation than a reaction to individual news.
Can buyers keep DASH above $55?
The $55-to-$57 zone may decide whether the rally continues, since DASH reached that region twice in May but failed to hold it. Moving beyond $57 could put $60 within reach, but falling back below the resistance level may push traders who bought at lower prices to sell and secure profits.
A sharp rise like this does not guarantee an immediate decline, but rapid gains often bring larger price swings as buyers and sellers compete around a previous high. If the price retreats, $48 is the first area where buyers may try to stop the decline, and a deeper pullback could send DASH back toward $43 to $44.
Source: AMBCrypto
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