• Dash price is currently bounded inside a long-term symmetrical triangle on the weekly chart.
  • The recent bullish momentum could be enough to push DASH into a massive breakout.

Dash is up by 100% since November 2020 and bulls aim to continue pushing the digital asset to new highs. There is only one critical resistance level before a significant 75% breakout on the weekly chart.

Dash price needs to climb above $140 to rise higher

On the weekly chart, Dash price has established a symmetrical triangle pattern and could see a breakout in the near future. The digital asset is currently trading at $130 while the trendline resistance is located at $140.

dash price

DASH/USD weekly chart

A breakout above $140 could quickly push Dash price towards $250, a 75% increase which is determined using the height of the pattern. 

dash price

DASH social volume

Additionally, the social volume of DASH has been declining notably since the peak at $154 on January 10. This decline also indicates that a potential breakout or breakdown is nearby.

However, a rejection from the top trendline at $140 could be devastating for Dash as bears can quickly push the digital asset down to the lower boundary of the triangle pattern at $70.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

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