$DASH Dash (DASH) Price Analysis: Bulls Defend $65 Support as Whale Shorts Surge
Dash (DASH) is currently trading at $65.75, marking a steady 4.8% recovery over the last 24 hours as it bounces from a local low of $63.31. Technically, the asset is at a vital inflection point, successfully defending the $64.30 structural floor which aligns with its rising 200-day EMA. The Relative Strength Index (RSI) has moved into a neutral zone at 36.06, signaling that the "oversold" conditions from the recent 25% weekly pullback are beginning to stabilize. Fundamentally, DASH continues to lead the Layer 1 yearly performance with 83% gains, outperforming category peers amidst a broader "privacy rotation" in the market. However, a major "tug-of-war" is underway, with on-chain data showing a record $7 million short position opened by top-tier whales betting on a deeper correction.
Immediate overhead resistance sits at the $68.98 pivot point; a decisive daily close above this level is required to reignite the path toward the $89 yearly high. Market sentiment remains "Cautiously Optimistic" as the network benefits from defensive positioning due to US-EU trade tensions and increased global stablecoin freezes. The 20-day EMA at $61.00 remains the primary safety net, with a break below this likely triggering a "Change of Character" (CHoCH) toward the $55 liquidity pocket. Trading volume has stabilized at $380 million, indicating significant buyer engagement even as speculative pressure from short-sellers remains at a multi-month high. For your readers, the verdict is "Strategic Hold," as the "rounded bottom" recovery pattern on the daily chart remains technically valid despite the recent shakeout. Watch for Bitcoin to stabilize above $90,000 to provide the necessary tailwinds for DASH to reclaim its $100 psychological target.
