DASH has just achieved a remarkable 30% gain, pushing the cryptocurrency to unprecedented levels for the year. The surge in prices is accompanied by frenzied activity in the derivatives market, indicating that institutional traders are heavily betting on the continuation of the rally. Will the bulls have enough fuel to aim for the symbolic $67 mark?
DASH’s rally doesn’t come out of nowhere. Analysis of activity in the derivatives markets reveals a massive concentration of long positions fueling this bullish momentum. The volume of DASH futures contracts has literally exploded in recent days. With a notable increase in open interest that signals the entry of fresh capital into the market.
This buying pressure is partly explained by the renewed interest in cryptocurrencies focused on privacy and fast transactions. DASH, with its masternode system and PrivateSend features, is once again attracting the attention of investors looking for alternatives to market leaders. The current macroeconomic context, marked by a certain distrust of fiat currencies, is also playing in favor of these digital assets.
On-chain data confirms this bullish sentiment. The number of active addresses on the DASH network has increased significantly, while exchanges are recording net outflows of tokens. This phenomenon, often a precursor to significant price movements, suggests that holders prefer to secure their positions rather than sell immediately.
Technical analysis places the next major resistance level around $67, representing an additional gain of approximately 20% from current prices. This threshold corresponds to the 2023 high and represents an important psychological zone for traders. The question isn’t so much whether DASH can reach this level, but rather if the current momentum will be enough to break through this barrier.
Technical indicators show mixed signals. The RSI is approaching the overbought zone, which could lead to a short-term correction before the bullish trend resumes. In parallel, the 50 and 200-day exponential moving averages have just formed a golden cross. A signal generally interpreted as bullish by chart analysts.
Trading volume remains a determining factor. To validate the continuation of the rally towards $67, DASH will need to maintain sustained volumes, especially when breaking through intermediate resistances around $55 and $60. Without this volumetric support, the risk of rejection increases considerably, which could lead to a technical pullback towards $45.
The inherent volatility of the crypto market calls for caution. Experienced traders are already placing their stop-losses below key support levels to protect their gains. Risk management becomes paramount during these euphoric phases where reversals can occur suddenly.
Indicators show bullish momentum, making this the ideal time to buy DASH on Bitget before the next rally! Exclusive cashback on Bitget available!
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