Breaking News

web3bzz

Allow notifications🔔 to receive the latest news and updates.

DASH Gains 57% in Seven Days– Is $80 the Next Target?

DASH climbs to $54.40, up 57%. Analysts predict $80 as the next resistance

3 minDecember 4, 2024

Highlights:

DASH surged 57% this week, reaching $54.40 with strong buying interest.

Key levels show $40 support, $80 resistance, and potential consolidation at $60-$65.

Technical indicators suggest overbought conditions but bullish momentum could drive further gains.

DASH Gains 57% in Seven  Days– Is $80 the Next Target?

Dash (DASH) has remarkably gained 57.11% over the past week. DASH now trades at $54.40, supported by a daily trading volume of $588.9 million. This surge comes after months of trading between $31.29 and $57.01. Despite a recent 4.99% pullback, optimism remains strong. 

 

Key Levels to Watch: Support at $40, Resistance Near $80

 

 

The $40 level has provided solid support, acting as a foundation for the recent rally. Buyers used this zone to fuel the price surge throughout 2023 and into 2024. On the other hand, the $80 mark has proven difficult to surpass, with previous attempts falling short.

 

Price activity suggests potential consolidation between $60 and $65, where resistance appeared earlier this year. Failure to hold above this range may lead to a retest of $40. Ongoing demand has increased the likelihood of further upward movement.

 

Overbought Indicators Hint at Possible Cooling Off

 

Technical indicators reveal strong momentum but signal caution. DASH has climbed well above the 50-day moving average, last seen at $34.66. The price now trades near the upper Bollinger Band, reflecting bullish pressure.

 

The Relative Strength Index (RSI) currently sits at 86.49, indicating overbought conditions. Historically, RSI levels above 70 suggest a possible correction or consolidation phase. Meanwhile, the Moving Average Convergence Divergence (MACD) remains bullish, with the histogram and MACD line showing sustained upward trends.

 

Network growth adds to the bullish sentiment. Total Value Locked (TVL) increased by 10.24% within a day, showing heightened activity across the DASH ecosystem. A successful rally beyond $80 might attract even more buyers, paving the way for additional gains.

 

Subscribe To

Web3Buzz

Connecting you to the world of Web3

Related News

People also like to read

Latest News