Dash Price Prediction: DASH hits another colossal milestone as $600 beckons


  • Dash spikes above $300 after triggering a technical pattern breakout.
  • Extending the uptrend to $600 will depend on the bulls’ ability to break above the hurdle at $340.
  • A correction may come into the picture, especially now that the RSI is in the overbought region.

The Dash rally is catching momentum after achieving its technical breakout target. At the time of writing, the token is seeking support above $300. A comprehensive look at the weekly chart shows that the rally is halfway to $600.

The inverse H&S pattern sets Dash on the launchpad

The inverse head-and-shoulders is a bullish pattern in technical analysis. A break above the horizontal line results in a drastic upswing resembling Dash from $170 to marginally above $300. If the next crucial hurdle at $340 is broken, DASH may rally toward $600.

Meanwhile, the Relative Strength Index continues to move higher within the overbought region. Moreover, a golden cross pattern is likely to come into the picture on the weekly chart with the 50 Simple Moving Average (SMA) crossing above the longer-term 100 SMA.

DASH/USD weekly chart

DASH/USD weekly chart

The IOMAP model by IntoTheBlock reveals that little resistance is ahead of Dash. In other words, gains are likely to increase with bulls increasing their grip. However, some attention must be channelled to the region between $325 and $335. Here, nearly 4,800 addresses purchased roughly 52,700 DASH. This a subtle resistance that may not do much to hinder the rally to higher levels.

On the downside, Dash sits on areas with immense support, mostly between $270 and $280. Here, 14,800 addresses previously bought nearly 361,000 DASH. Slicing through this zone may not be easy, thus adding weight to the bullish outlook.

DASH/USD weekly chart

Dash IOMAP model

Looking at the other side of the fence

Dash may fail to hold the rally if the resistance at $340 remains unshaken. The RSI is not in the overbought region, which means that investors have to proceed with caution. A correction from the current levels will test support at $300. If push comes to shove, declines will continue to $280.


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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin eases ahead of key Federal Reserve decision on interest rates

Bitcoin eases ahead of key Federal Reserve decision on interest rates

Bitcoin retraces slightly, trading above $59,000 on Wednesday, as crypto markets brace for the upcoming interest-rate decision by the US Federal Reserve (Fed), which is expected to lower interest rates for the first time in more than four years.

More Bitcoin News
Why US citizens can’t participate in airdrops: Top house republicans ask SEC Chair Gary Gensler

Why US citizens can’t participate in airdrops: Top house republicans ask SEC Chair Gary Gensler

Crypto market participants in the United States are excluded from airdrops for legal reasons. Airdrops occur when crypto projects distribute their tokens to holders in a free or discounted manner, sending them directly to their wallet address or inviting eligible users to claim these crypto assets. 

More Cryptocurrencies News
DUSK price set for a rally after finding support around key level

DUSK price set for a rally after finding support around key level

Dusk (DUSK), a Layer 1 blockchain protocol that brings classic finance and real-world assets (RWA) on-chain, recovers initial weekly losses and recaptures the $0.210 level, up 5% in the day on Wednesday. 

More Cryptocurrencies News
Binance addresses WazirX and Zettai accusations on the July hack

Binance addresses WazirX and Zettai accusations on the July hack

The WazirX team and Nischal Shetty continue to mislead customers about a $230 million hack in July, according to Binance. On Tuesday, crypto exchange Binance addressed “inaccurate and misleading statements” from Zettai and WazirX regarding Binance.

More Binance News
Bitcoin: On the road to $60,000

Bitcoin: On the road to $60,000

Bitcoin price retested and bounced off from the daily support level of $56,000 this week. US spot Bitcoin ETFs posted $140.7 million in inflows until Thursday and on-chain data supports a bullish outlook.

Read full analysis
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

BTC

ETH

XRP