Search ForexCrunch
  • Dash price is currently bounded inside a long-term symmetrical triangle on the weekly chart.
  • The recent bullish momentum could be enough to push DASH into a massive breakout.

Dash is up by 100% since November 2020 and bulls aim to continue pushing the digital asset to new highs. There is only one critical resistance level before a significant 75% breakout on the weekly chart.

Dash price needs to climb above $140 to rise higher

On the weekly chart, Dash price has established a symmetrical triangle pattern and could see a breakout in the near future. The digital asset is currently trading at $130 while the trendline resistance is located at $140.

dash price

DASH/USD weekly chart

A breakout above $140 could quickly push Dash price towards $250, a 75% increase which is determined using the height of the pattern. 

dash price

DASH social volume

Additionally, the social volume of DASH has been declining notably since the peak at $154 on January 10. This decline also indicates that a potential breakout or breakdown is nearby.

However, a rejection from the top trendline at $140 could be devastating for Dash as bears can quickly push the digital asset down to the lower boundary of the triangle pattern at $70.