DASH jumps 57% in a week, but can it sustain momentum to break $80 resistance?
- DASH crypto gained 57%, targeting the $80 resistance as buyers pushed momentum to new highs. The RSI was overbought at 86.49, suggesting possible corrections despite bullish momentum.
Dash [DASH] has surged 57.11% over the past seven days, bringing its price to $54.40 at the time of writing.
This increase comes with a 24-hour trading volume of $588,951,773, reflecting a high level of activity and investor interest.
However, DASH has seen a slight decline of 4.99% in the past 24 hours, after reaching a 7-day high of $57.36.
During the past week, DASH traded within a range of $31.29 to $57.01, breaking out from a period of extended consolidation.
The circulating supply of 12 million DASH places the cryptocurrency’s market cap at approximately $663.7 million, with a fully diluted valuation (FDV) of $1.035 billion.
Support at $40, resistance near $80
DASH has shown resilience, holding steady above the $40 support zone, which served as a foundation for its recent bullish rally. Historically, this level acted as a consolidation area through 2023 and much of 2024.
Source: TradingView
On the upside, the price faced significant resistance at $80, a level it failed to break in mid-2023.
Analysts noted the potential for a short-term pullback or consolidation between $60 and $65, another intermediate resistance zone that saw price clustering earlier in 2023.
Market watchers cautioned that a failure to maintain momentum above $60-$65 could result in a retest of the $40 support.
Overbought conditions persist
Dash’s price surge was supported by technical indicators, including a breakout above its 50-day moving average, at $34.66 at press time.
The token was trading near its upper Bollinger Band at $50.55, showing strong upward momentum.
However, the Relative Strength Index (RSI) was at 86.49, indicating that DASH was overbought at the time of writing. Historically, RSI levels above 70 suggested that a price correction or consolidation could be next.
Now, traders are keeping a close eye on momentum indicators for signs of cooling off.
Source: TradingView
The Moving Average Convergence Divergence (MACD) remained bullish, with the histogram at 3.90 and the MACD line well above the signal line.
This pointed to sustained upward momentum in the near term, although some traders remained cautious of divergence signals.
Can DASH break $80?
With a Total Value Locked (TVL) of $340,423, DASH’s network activity has grown by 10.24% in the past 24 hours, according to DeFiLlama.
The sustained buying interest suggests that the crypto may continue to climb toward the $80 resistance level, provided it overcomes the intermediate challenges at $60-$65.
If bullish momentum continues, breaking through $80 could pave the way for further gains.
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