Dash price jump: “Oldtimer” becomes the altcoin of the day for the DACH region
- A strong breakout in Dash today caused an unexpected movement in the altcoin sector and caused a stir in the DACH region.
- While BTC and ETH “Nothing new in the West“, Dash rose double-digit within a short period of time, sending a signal well above the normal price momentum.
It started with regulatory squabbles in Dubai. The trigger was a decision by the Financial Services Authority, which placed several privacy coins on a banned list – including Dash. Although Dash has been setting itself apart from classic privacy coins for years and only offers some of their optional functions, the report initially caused uncertainty.
But instead of a sustained sell-off, there was a countermovement that quickly developed into a short squeeze. Many market participants had sold Dash short due to the negative regulatory news from Dubai, but then covered up again when the price rose. This significantly increased the upward movement and led to a rally that built over several days.
Technical aspects and derivatives printing
At the same time, technical aspects played a crucial role. Dash broke through several moving averages, who had been forming resistance for months. Overcoming this triggered automated buying programs and led to a wave of liquidated short positions on the derivatives exchanges.
What was particularly noticeable was the increase in Open Interestsuggesting that new entrants were trying to get in on the act. At the same time, sales rose to levels last seen in Dash’s previous bull runs. This combination of technical strength and derivatives pressure gave the event additional credibility.
Importance for the DACH region
Dash is traditionally more relevant for the DACH region than for other markets. This is due to the early merchant acceptance, the strong community and the role as an uncomplicated payment coin.
Today’s rally is therefore not just perceived as a short-term market phenomenon, but as a revival of an altcoin that had been present in German-speaking countries for a long time. New connections such as the one to Alchemy Pay, which Fiat Onramps enables in over 170 countries, reinforce the effect.
But the question remains whether Dash has enough structural substance to turn the momentum into a sustainable trend reversal. For the moment, however, momentum dominates – making Dash the altcoin of the day in the DACH region.
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