- DASH surged 30%, hitting a new yearly high fueled by strong derivatives activity.
- Technical indicators like the Golden Cross and Cup and Handle suggest further upside.
- Profit-taking emerged, but bullish momentum remains strong with eyes on the $67 target.
Dash — DASH, has come roaring back, catching traders off guard with a sharp 30% surge. The rally pushed prices to a new yearly high of $62, reigniting optimism across the market. Many investors are now wondering if the bullish energy can carry DASH toward the next key target at $67. Strong derivatives activity, positive technical signals, and a new wave of momentum are shaping the narrative for what could be another major breakout.
Derivatives Fuel the DASH Rally
DASH’s rally didn’t come out of nowhere. A big chunk of the move came from rising activity in the derivatives market. Open Interest jumped by 55%, reaching $45.65 million in just 24 hours. That kind of inflow usually points to growing confidence among traders. Data from CoinGlass shows the Long-to-Short ratio moved above 1, meaning more traders are betting on further gains.
The OI-Weighted Funding Rate also turned positive at 0.0087%, confirming stronger buying pressure. These metrics signal that bullish sentiment is rising fast despite mixed community opinions. Only 78% of DASH holders currently lean bullish, which actually adds an interesting twist. When not everyone is confident, rallies often have more room to run. Contrarian traders see this as a potential setup for another leg higher.
Chart Patterns Hint at More Upside
On the technical side, DASH has formed a classic “Cup and Handle” pattern. This formation often appears before a major breakout. If the structure holds, the next target could easily stretch toward $67. That price would represent the highest level since 2023, marking a significant comeback for the project. Momentum indicators are flashing green too.
The Moving Average Convergence and Divergence (MACD) has formed a Golden Cross, where the blue line moves above the signal line. This usually confirms ongoing bullish strength and suggests that traders may continue driving the price higher in the short term. Still, not everything points straight up. The surge in derivatives activity has led some spot holders to lock in profits.
Roughly $4.32 million worth of DASH has been sold in the past day. While that might cool the pace slightly, it also shows investors are confident enough to take gains instead of rushing for the exits. If selling remains moderate, the upward trend could continue. The market’s energy still leans positive, and traders appear ready for another push.
Analysts watching both technical and on-chain metrics agree that DASH looks well-positioned for another move higher. DASH has exploded 30%, reaching new yearly highs and fueling bullish optimism. Rising derivatives activity and positive chart setups hint at more upside. Despite light profit-taking, overall momentum remains strong.
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