Dash Price Rebounds from Key Fibonacci Support: A New Yearly High in Sight?
Dash (DASH) price has entered a critical phase, rebounding from a key Fibonacci support level near $60. This development has sparked hopes of a fresh rally towards the yearly high of $97. The cryptocurrency’s recent price action has been characterized by a strong impulsive rally, followed by a corrective pullback. However, the pullback has found support in a high confluence technical zone, raising the possibility of another rise.
As buyers step in and volume begins to respond, the focus shifts to whether this support can hold and fuel a continuation towards the highs. The.618 Fibonacci level, which lies between $60 and $62, has historically served as a strong retracement level, attracting buyers. Additionally, daily support near $59 creates a strong technical confluence, increasing the likelihood of a sustained upswing.
Key Technical Points of Dash Price
The current market structure of Dash remains constructive, despite the decline. The rally that pushed the price towards $97 was impulsive in nature, signaling strong bullish participation. The subsequent downward move was corrective rather than impulsive, suggesting profit-taking rather than aggressive distribution. Corrective retracements are a natural part of trending markets, allowing the price to regain momentum, rebalance liquidity, and attract new buyers at discounted prices.
Fibonacci Support and Technical Confluence
The primary support area has emerged as the 0.618 Fibonacci Retracement, which lies between $60 and $62. This level is widely followed by market participants and often serves as a decision point during pullbacks in uptrends. The price reaction in this zone was constructive, with Dash stabilizing and starting to rise. The importance of this area is further reinforced by the presence of daily support near $59, creating a strong zone of technical confluence.
Confluence plays a key role in technical analysis, and Dash’s current setup offers multiple levels of support. The overlap between the Fibonacci retracement levels and daily horizontal support reinforces the idea that this zone represents fair value for buyers. Historically, markets tend to react more decisively at such levels. The fact that Dash has already shown signs of stabilization and recovery suggests that demand is present and sellers may be losing momentum.
Volume: The Deciding Factor
While the price structure and support levels are favorable, volume remains the key confirmation metric. Encouragingly, the recent rebound from Fibonacci support was accompanied by a noticeable increase in volume, suggesting that buyers are more likely to lock in rather than passively absorb price. For the bullish scenario to remain intact, volume must continue to grow as prices rise. Sustained volume would indicate strong participation and increase the chances of Dash revisiting and possibly going beyond its yearly high of $97.
A clear breakout and acceptance above $97 would mark a significant milestone and open the door for price discovery and higher targeting. However, until this level is reached again, traders should expect some volatility as Dash approaches resistance. As long as the price remains above the 0.618 Fibonacci level and the daily support near $59, the technical outlook favors further increases.
Upside Targets and Resistance Levels
If Dash continues to hold above the $60-$62 support zone and volume remains supportive, the next major upside target is the previous yearly high at around $97. This level represents an important psychological and technical barrier where profit-taking is likely to occur initially. A clear breakout and acceptance above $97 would mark a significant milestone and open the door for price discovery and higher targeting.
DASHUSDT (4H) chart, source: TradingVIEW
For more information on the Dash price and its potential to reach a new yearly high, visit https://crypto.news/dash-price-fibonacci-suppor-new-yearly-high-next/
