DASH is among the cryptocurrencies exiting Huobi Global
Privacy-linked tokens have been a target by global regulators for compliance
DASH is recovering, but the ongoing concerns could pose a challenge
There is a lot of uncertainty that faces security-focused cryptocurrencies. On September 12, Huobi Global said it was delisting several privacy tokens, including DASH. The company cited regulatory compliance in the move, which is expected to take off on September 19.
The delisting of privacy tokens by Huobi could be just a tip of the iceberg. The US has reportedly been looking into the case of privacy tokens since the Tornado Cash. Consequently, analysts have warned that it is just a matter of time before privacy tokens are brought to book.
There is no debate that privacy coins have a place in the crypto sector. Users are seeking anonymity, and tokens such as DASH have subsequently flourished. However, there is a tug of war with regulators that could soon culminate in further delistings.
DASH has lost more than 7% in 24 hours since the delisting news came up. The losses, in addition to the delisting, occur due to market correction. Technical analysis indicates that DASH remains under the trenches.
Source – TradingView
DASH lacks momentum at the current trading level of $45. The level is close to the support of $40. The moving averages offer resistance from above. Although the MACD indicator is above the moving average, it is in the bear zone. The low momentum could add pressure and force a decline of DASH to $40. Investors should be wary of further downside.
DASH has held above the $40 support but lacks the momentum to push higher. The upside could be curtailed further by the delisting by Huobi.
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The post DASH faces delisting by Huobi, but how is the price behaving? appeared first on CoinJournal.
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