Dash is demonstrating notable strength this week, breaking out of a prolonged sideways range. Analysts suggest this upward movement may be just the beginning of a more significant rally.
Crypto King has identified that the Dash price is approaching a critical level. Initial targets are set around $100, with a potential climb towards $130 if bullish momentum is sustained.
Concurrently, World Of Charts has observed that Dash has already surged over 110% following a breakout of resistance. Despite an expected dip towards $60, Dash proved "unstoppable" immediately after the breakout, indicating a clear shift in market momentum.
DASH Price Testing a Major Breakout Level
Crypto King has maintained a close watch on a key resistance level, which has consistently acted as a ceiling for the price action. A decisive daily close above this area could transform the current breakout into a more substantial move.
The market sentiment appears to align with this outlook, as the Dash price is already pushing into the upper $80s. This area represents the next phase on the chart, often referred to as the "accumulation" zone above previous resistance.
If Dash can maintain its position within this range, the technical setup points towards $100 as the next immediate target, followed by $130 as a potential further bullish objective.
Momentum Remains Strong on Shorter Timeframes
Analyzing the shorter-term chart provided by World Of Charts, the Dash price successfully broke out of a falling wedge pattern and has not retraced significantly. Pullbacks have been shallow, with buyers consistently stepping in quickly to support the price.
This pattern typically signifies increasing confidence among market participants, who are willing to enter positions at higher price points.
Following an impressive 110% upward move, a period of consolidation for Dash is possible at any time. A retest of the $60–$65 range would be a logical development if momentum begins to wane.
However, the broader market structure remains bullish as long as the DASH price stays above the crucial breakout support zone, currently situated around $50.
Potential Future Trajectory for Dash
Dash has successfully recaptured market attention, with analysts anticipating the possibility of a more substantial rally. Currently, bullish sentiment prevails, and traders are closely monitoring for confirmation of continued upward movement.
Should the Dash price achieve a sustained close above the identified resistance level, the path towards $100 and potentially even $130 would become significantly clearer.