DASH Traders: A $63 Rebound – Is $130 Within Reach?

Dash (DASH) has shown a notable rebound from a significant support level at $63, suggesting bullish potential. Recent trading activity indicates a favorable short-term outlook, with price targets suggesting a rise towards $130 and perhaps even $176 if the momentum continues.

Key Takeaways

A bounce from the critical Fibonacci retracement level at $63 indicates strong bullish sentiment and improves short-term outlook.
If Dash surpasses the $100 mark, it has the potential to reach new yearly highs of $176.
AMBCrypto's previous analysis discussed how privacy tokens like Dash were experiencing a retracement, but signs of recovery have begun to emerge.
An impressive 45% increase from a low of $61.6 recorded on November 13 has revitalized market interest in Dash.
The retracement has acted as a healthy correction for the market, and bullish control has returned at critical support levels.

DASH rebounds 45% from lows, bullish structure points toward $130 and $176 next

Analyzing DASH's Price Targets

Dash 1-day Chart

Source: DASH/USDT on TradingView

Since the upward momentum commenced in the last week of October, Fibonacci retracement levels were applied. They confirmed that Dash successfully held the 78.6% retracement level at $63 as a reliable support zone. Recently, buying volume at this critical support has surged, helping to propel the price to $99.

The overall market structure appears bullish, and the positive reaction at the Fibonacci support level is encouraging. Additionally, the support level at $77.9 on the weekly chart remains intact, further solidifying the bullish outlook.

Maintaining Short-Term Support

Dash 4-hour Chart

Source: DASH/USDT on TradingView

On the 4-hour chart, bullish momentum persists. The Chaikin Money Flow (CMF) has stayed above +0.05 for the past two sessions, indicating continued buying pressure. The $76–$82 range (highlighted area) has been tested and successfully retested, leading to another rapid price increase.

As long as the bullish momentum is maintained, traders could aim for the $130 target. A sustained upward trend might even push prices towards the $176 Fibonacci extension. However, a decline below $76 would negate this optimistic scenario.

Disclaimer: The views expressed in this article are solely the writer's opinion and do not constitute financial, investment, or trading advice.