DASH Surges 6% As It Breaks Key Resistance Toward $60

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Dash (DASH) recently saw a significant price jump and is now trading $48.93, a strong 5.86% gain in the last 24 hours. This is due to the 35% increase in trading activity within the same period of time. This puts its trading volume at about $267.89 million.

Meanwhile, the total market value for DASH remains robust at $609.11 million. This current price action draws significant attention from market watchers.

Dash Price action | Source: CoinMarketCap

Turning to the long-term technical view, the DASH chart shows a powerful breakout. The price spent many months stuck in a low accumulation area between $18 and $22. This recent move upward, which started on the 25th of September, clearly exited this long-term trading range, giving the market a 187% surge in price before cooling down.

Furthermore, the price successfully pushed above a major historical resistance zone around $42 to $45. This level now becomes an important new support for the price. This strong action signals a big interest is back in the market.

Dash Technical Analysis | Source: TradingView

Analysts are now focused on where the price goes next following this momentum. The immediate technical charts point toward potential higher targets. The next resistance level is seen around $60, which traders will watch closely for profit-taking. Beyond that, the key long-term target is near $71.77. This level represents a major price zone from historical highs.

Consequently, the future price path presents several simple options. If the current buying pressure continues, DASH could easily test the $60 price target soon. Moreover, a successful break above $60 would set the stage for the next move toward $71.77.

However, if the market fails to break above the $60 price level. This means that the rally could lose steam quickly. Therefore, a pullback to retest the new support zone of $41 or even worse, the $21 level, remains a real possibility. A drop back below this support would weaken the current bullish outlook. Traders must monitor volume alongside price movement.