DASH/USD ROCKET LONG SET UP (HODL) MOON TIMEWhat Blockchain Data Tells Us About Dash
Taking a look at Dash holders around the current price
In the graph below, we can see addresses that bought Dash between $57.27 and $79.71. IntoTheBlock’s “In/Out of the Money Around Current Price” model reveals that 13.44k addresses bought 198.91k Dash at an average price of $69.07. This gray cluster of holders can be considered as a resistance area for the upward trajectory of the price.
Holders have a long term attitude towards Dash.
IntoTheBlock’s “Ownership by Time Held” analysis segments addresses based on their average holding periods. Below we can see the Hodlers indicator that covers the number of long term holders (those that hold longer than 1 year and the Cruisers indicator that covers the number of medium term holders (those that hold the token between 1 month and 12 month). The vast number of holders are mid to long term with a dominance of 85% representing 1,167 million addresses.
Dash price volatility is going up.
In the graph below we can see a spike in the price volatility for Dash reaching a high level of 196% on January 24th, maintaining the volatility above 100% since mid-January. Also, it is worth mentioning how Dash is usually strongly correlated to Bitcoin’s price. Although, we can see also how the correlation decreased to 0.79 when the price of Dash reached $133.51.
Dash Holders are mostly western Retail Investors.
Metrics revealed by IntoTheBlock´s East-West analysis show that Dash is a worldwide traded token but with a higher activity of 58.97% predominance from the western hemisphere where the adoption seems to be faster. Dash is a highly distributed asset, as almost 84% of the holders are retail investors that own less than 0.1% of the circulating supply of tokens.
There has been a recent spike in the UTXO Age Streams.
IntoTheBlock´s UTXO Age Stream graph shows a distribution of the different UTXO positions over time. We can see that for this asset, 23% of the tokens or 2.19 million Dash have been held for a period between 2 to 3 years being the most relevant group in the composition.
As Dash continues its evolution within the crypto market, some of these indicators show different views and perspectives to better understand and analyze the asset. Bear in mind that at IntoTheBlock we will keep looking for new and interesting patterns that are emerging.
Title : DASH/USD BUY SIGNAL
Asset : Crypto
Type : Limit Order Or Market First Entry
Time Frame : WEEKLY
Entry Price 1 : $72.25 & Entry Price 2 : $68.25
Stop Loss : $52.25
TP 1: $87.75 ---- TP 2: $98.00
TP3: $128.25---- TP.4 $147.75
Tp.5 $158.00--- TP.6 $240.25
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