Dash Price Forecast: $96 Rejection Triggers 20% Pullback Toward $68
Dash faces correction after a 130% rally, rejecting $96 resistance. Price may retrace toward $68 before bulls regain control for another...
Quick overview
- Dash (DASH) is currently trading at $91.29 after a significant 35% surge, reaching a multi-month high of $96.45.
- The cryptocurrency has seen a 130% increase from October's lows, but profit-taking is causing momentum to fade.
- Technical indicators suggest a bearish retracement is likely, with key support levels at $75.36 and $68.86.
- Traders are advised to consider a potential long reentry in the $68–$75 range, targeting a rebound towards $95–$112.
Dash (DASH/USDT) is trading around $91.29, cooling after a 35% daily surge that pushed the cryptocurrency to a fresh multi-month high near $96.45. The move marked a 130% jump from October’s lows near $41, but momentum appears to be fading as profit-taking sets in.
Trading volume has surged to $919 million in the past 24 hours, reflecting intense speculative activity as traders weigh whether Dash’s rally can sustain above critical resistance.
Dash (DASH) Technical Setup: Overbought and Vulnerable
The 4-hour chart highlights a clear bearish retracement setup following a double-top rejection at $96. The Relative Strength Index (RSI) recently touched 81, flashing overbought signals, while smaller candles, including spinning tops and Doji formations, indicate growing market indecision.
A retracement phase now looks likely, with immediate Fibonacci support levels appearing at $75.36 (0.382) and $68.86 (0.5). The 20-period EMA remains well below price action, hinting at room for a healthy correction that could stabilize the trend.
DASH Key Levels to Watch
- Resistance: $96.45, followed by $112.63
- Support: $75.36, $68.86, and $62.35
- RSI: 81 → 76, signaling waning momentum
If Dash breaks below $83, the correction could deepen toward the ascending trendline support near $66. Conversely, holding above $75 may keep the bullish trend intact, opening the door for another move toward $96–$112 once momentum returns.
Dash (DASH) Trade Outlook: Pullback Before the Next Leg
For traders, this setup resembles a retracement-buy opportunity. A potential long reentry near the $68–$75 range could offer attractive risk-reward, targeting a rebound toward $95–$112, provided RSI recovers and the 20-EMA flattens.
Dash’s broader trend remains constructive despite short-term weakness. As the crypto market continues its rebound phase, a cooldown below $80 may simply serve as a reset before another bullish wave takes hold, potentially reigniting momentum into late 2025.
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