Lorenzo Stroe
Independent Analyst
- Dash price had a massive 70% breakout on January 9 hitting a high of $158.5.
- There are bearish signs in the short-term for the digital asset.
It seems that it’s time for Dash to experience another pullback after a massive breakout in the past week. An indicator has just flashed a significant sell signal on the daily chart which could translate into a correction in the short-term.
Dash price could fall towards $110 if this sell signal is validated
On the daily chart, the TD Sequential indicator presented a sell signal on January 13 and it’s about to do the same on the 9-hour chart, although this last call hasn’t been confirmed yet.
DASH sell signals
Using the Fibonacci Retracement indicator on the 12-hour chart, we can determine several interesting price targets on the way down. First, at the 50% Fib Level, Dash price would be around $120. The 38.2% level would be the $112 and one of the lowest targets for the bears.
DASH 12-hour chart
However, it seems that the In/Out of the Money Around Price (IOMAP) chart shows a lot of support on the way down between $125 and $130 and still good support below this range.
DASH IOMAP chart
Additionally, the IOMAP model also indicates that there is only one resistance area between $136 and $141. A breakout above this point can quickly push Dash price towards $153 as there is no resistance overhead.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
XRP gains as traders gear up for futures ETFs debut this week
XRP climbs over 3% on Monday, hovering around $2.33 at the time of writing. The rally is likely catalyzed by key market movers like XRP futures Exchange Traded Funds (ETFs) approval by the US financial regulator, the Securities and Exchange Commission (SEC), and a bullish outlook.
Bitcoin Price Forecast: BTC eyes $97,000 as institutional inflow surges $3.06 billion in a week
Bitcoin (BTC) price is stabilizing above $94,000 at the time of writing on Monday, following a 10% rally the previous week. The institutional demand supports a bullish thesis, as US spot Exchange Traded Funds (ETFs) recorded a total inflow of $3.06 billion last week, the highest weekly figure since mid-November.
Ethereum Price Forecast: ETH ETFs post first weekly inflows since February
Ethereum (ETH) recovered the $1,800 price level on Saturday after US spot Ether ETFs (exchange-traded funds) recorded their first weekly inflows since February.
Defi Development Corporation files to offer $1 billion in securities to boost its Solana holdings
Defi Development Corporation (formerly Janover) filed a registration statement with the Securities & Exchange Commission (SEC) on Friday, signaling its intent to offer and sell a wide range of securities, including common and preferred stock, debt instruments and warrants for the purchase of equity
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.