- Dash (DSHUSD on xStation5) could be nearby an interesting technical level
- South Korea has yet to implement a ban on all forms of initial coin offerings
- Large Japanese energy supplier adds Bitcoin (BTCUSD) payments with a discount on electricity bills
All major cryptocurrencies have approached curious technical levels which could be worth looking at going forward, Dash is among them. The price of Dash has almost touched a bullish trend line which has served as a springboard for buyers since the summer months. Thus, there is a possibility that bulls could gain a foothold in the vicinity of that area yet again.
The technical view of the Dash seems to be promising for buyers, a bullish candlestick has to be drawn though before a possible resumption of an uptrend. Source: xStation5
Taking a look at a technical analysis we could draw some conclusions. First of all, the price was unable to retain its yesterday’s profit, as a result, a long shadow was drawn. It suggests that even as some buyers could lurk in the proximity of $280, there is still too early to claim that bears have been rooted out altogether. Therefore, one of the best scenario to consider may be waiting for a candlestick which could ignite more hopes as for a resumption of a move higher. Finally, it’s worth noticing that Dash has been trading within a triangle formation for some time, hence should that pattern is to persist, a rebound towards an upper limit could be expected.
In turn, as far as the latest stories are concerned a noteworthy one has come from South Korea recently which could be supportive of Bitcoin. We pointed out last week that South Korea was implementing a ban on all forms of initial coin offerings or ICOs, however it hasn’t been introduced thus far. Now, local cryptocurrency industry leaders argue that the prohibition is legally baseless. This topic has drawn attention not by chance as South Korea plays quite a relevant role in the global cryptocurrency market, so it’s worth keeping a close eye on it going forward.
At the end let’s mention the large Japanese energy supplier Remixpoint which has recently launched a new electricity service with Bitcoin payments integrated to serve customers all over Japan. The company is now offering customers who pay with Bitcoin a discount on their electricity bills. Bitcoin payments are processed by the company’s cryptocurrency exchange subsidiary, Bitpoint.
Meanwhile, Bitcoin and gold prices seem to be closing up a discrepancy which has come up lately. Source: xStation5