Dash is Likely to Continue Down on Regulatory Pressures
Dash (DSH) recorded a 1.5% increase, reaching $27.34 this week. The altcoin has been following the uptrend support in January, accompanied by declining volatility. However, a descending triangle pattern has formed, typically signaling a potential downward movement. If this pattern unfolds, Dash might experience a break in its 5-month uptrend, leading to a potential 25% drop to $20.00.
Fundamentally, regulatory pressures on privacy-focused coins like Dash contribute to the downside perspective. On January 5, the OKX crypto exchange delisted Dash along with other privacy coins like Monero and Zcash. This regulatory scrutiny adds further challenges to Dash, especially as it attempts to conduct a $DASH Airdrop. The delisting on multiple crypto exchanges makes it challenging for Dash to maintain its trajectory, and further declines may be expected.
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