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The price of DASH jumped about 130% in a short period, fueling expectations of a continued move above $100. The brief rally pushed the privacy-focused digital currencies into triple digits during daily trading.
However, the breakthrough failed, and selling pressure quickly followed, increasing the risk of a deeper correction.
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Market sentiment had already shown signs of weakness before the recent decline. The Chaikin Money Flow indicator indicated a bearish divergence days before the decline. while The Dash price continued In forming higher highs, the CMF posted higher lows, highlighting weak capital support behind the rally.
This pattern often reflects hype-driven price action rather than volume-backed strength. Capital flows also increased when prices rose, suggesting distribution by informed participants.
When momentum lacks a continuous flow, the rads tend to relax. DASH is now facing the consequences of this imbalance as selling pressure accelerates.
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Macro indicators also confirmed negative expectations among traders. Show data DASH funding rates The short positions dominate the long contracts for a period of about a week. This imbalance indicates that traders expected a downside and positioned accordingly before the recent reversal. Therefore, these bears are likely to see significant gains.
This continued negative funding reflects the decline of positive belief. As bearish positions gain confirmation, short-term sentiment weakens further. This dynamic discourages dip buying and increases downside momentum, especially when broader market conditions remain unstable and risk appetite remains muted.
The Dash price has a lot to lose
The Dash index has risen about 130% in the past week, reaching $96 during its intraday high on Friday. The altcoin then fell by about 12%, trading near $74 at the time of writing. The price today remains stable above the 61.8% Fibonacci retracement level near $73.
This level, often called a bull support base, is crucial for the trend to continue. A collapse would confirm a shift towards a bearish structure. Given the prevailing indicators, The DASH index could decline towards… $60. The 23.6% Fibonacci level near $50 will become the next downside target.
Negative expectations will be weakened If the DASH index recovers Of the correction of 61.8%. The decrease in sales and the increase in the owner’s conviction can stabilize the price. Any move above the $83 resistance would signal renewed strength, paving the way for DASH to retest the $100 level again.
