What to know:
- Dash (DASH) surged over 15% in 24 hours, supported by strong bullish momentum across the crypto market.
- A successful retest of the breakout zone may turn former resistance into support, strengthening upside potential toward $36 and $40.
- Bollinger Bands squeeze and RSI near 63 suggest rising volatility and increasing buying pressure.
DASH is moving in an upward direction with the changing conditions in the crypto market. According to CoinMarketCap, the DASH price has surged by 15.72% over the last 24 hours and 24.11% over the last week.
At the time of writing, the token is trading at $37.37, with a trading volume of $111.02 million, which has declined by 8.19% over the last 24 hours. However, its market capitalization stands at $473.34 million, which is also up by 15.83%.
Source: CoinMarketCap
Also Read: Dash (DASH) Climbs 2.82%, Eyes Potential Breakout Above $48
Dash Breakout Signals a Potential Move Toward $40
Furthermore, the crypto analyst Alpha Crypto Signal highlighted that the token has entered a bullish phase after decisively breaking above a key descending trendline resistance, signaling a shift in market control from sellers to buyers.
The move reflects strengthening momentum and growing confidence among traders, as such clean breakouts are often seen as early indicators of a potential trend reversal in crypto markets.
Source: Alpha Crypto Signal’s X Post
After the breakout, the current retracement of the token shows a typical test of the previous resistance point, which can be seen as a new support level.
If the buyers manage to defend this area, the pattern implies an extension toward the target points of $36 and $40 levels. Otherwise, the lack of defense will diminish the positive sentiment and cause a retreat.
DASH Technicals Reveals Strong Upward Potential
According to TradingView, the token shows an explosive early rise but ends up having a strong retracement back towards its $30.00 support level.
The Bollinger Bands are now compressed, which indicates low volatility. This means that the bearish trend is now worn out, giving investors the opportunity to accumulate at this level.
Source: TradingView
The current price trend is clearly an upward breakout from above the upper Bollinger Band level of $37.20. This is confirmed by the sharp rise in the RSI to 62.99, pointing to the formation of strong buying power.
Provided that the token sustains its trading above the moving average level of $32.23, the expanded band implies the beginning of a new volatility trend.
Also Read: Dash (DASH) Broken Falling Wedge Retest Hints at Rally Toward $250
Be the first to comment