Key Takeaways
Dash (DASH) broke out of a multi-week consolidation range to reach a four-month high of $50.98, gaining 38 percent over the past week as a surge in trading volume ignited fresh momentum.
Data from derivatives marketplace Coinglass shows the move was driven by a sharp increase in speculative interest. Open Interest in DASH futures jumped 57.7 percent to $78.3 million, while derivatives volume exploded by 419 percent to $369.5 million, indicating traders were aggressively positioning for further gains.
The price rally was supported by a massive influx of capital across the market. According to CoinGecko, spot trading volume for DASH increased by 339 percent in 24 hours to $290 million. The Long/Short Ratio rose to 1.01, suggesting a slight bias toward long positions as traders chased the rally. Technical indicators turned strongly bullish, with the Relative Strength Index (RSI) rising to 73, a level that indicates buyers have firm control of the market.
For the rally to continue, DASH must secure a daily close above the psychological $50 level. A failure to hold this support could trigger a pullback toward its previous consolidation range around $36. If the bullish momentum holds, analysts see the next potential resistance levels at $57 and then $63. The token's performance comes as both Bitcoin and Ethereum have seen sideways price action, suggesting some traders are rotating into higher-volatility altcoins.
This article is for informational purposes only and does not constitute investment advice.
