DASH has indeed been fierce in this recent rally, rising 35% in a short period and becoming the hot topic of the market. However, behind this surge, there are actually many hidden clues in the market.
**What happened on the weekly chart**
From the weekly chart, DASH suddenly broke out from a long-term bottom consolidation zone. This breakout has two particularly obvious features: first, the trading volume hit a new high in nearly two years; second, it directly broke through several long-standing resistance moving averages. This pattern usually indicates that the main funds are actively pushing the trend. The resistance zone above is roughly between $100 and $120. If the weekly trend continues to strengthen, there's a good chance it will approach this area.
**But short-term risks are also present**
The daily RSI has already surged to around 94, which is in the extreme overbought zone. This means that although the trend looks very strong, profit-taking has already accumulated quite heavily. When might a violent shakeout occur? It could be right now. At that time, the price might either fall back to the MA7 or crash towards the MA25, which are not unusual events.
**How to view this market**
If only looking at the technical aspect, this is indeed a good trend swing opportunity with a high probability of success. The weekly breakout has sustainability and room for further imagination. But the problem is—current entry points are somewhat awkward. The rally has already been so large that the risk-reward ratio is no longer very balanced. If you want to participate, instead of chasing the high, it’s better to wait for a pullback. When the price re-tests a strong support level or the daily RSI pulls back from the overbought zone, the entry probability will be higher.
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CryptoSurvivor
· 01-15 13:20
Are you kidding? RSI is already at 94, and you're still willing to chase? Are you trying to get yourself killed?
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ClassicDumpster
· 01-15 12:00
A 35% increase sounds appealing, but with RSI already at 94, are you still chasing? The main players are harvesting; wait for a pullback before considering.
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HallucinationGrower
· 01-15 11:57
A 35% increase sounds great, but with RSI already at 94, are you still chasing? I don't believe this isn't a trap.
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PonziWhisperer
· 01-15 11:48
A 35% increase sounds great, but with RSI already at 94, are you still chasing? Isn't that asking for trouble? Just wait for the shakeout.
View OriginalReply0
SellTheBounce
· 01-15 11:34
This is the self-discipline of a bagholder: after a 35% increase, you still want to chase. There's always a lower point waiting for you.
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LiquidityLarry
· 01-15 11:32
A 35% increase is indeed impressive, but with RSI already at 94, are you still chasing? Shakeouts are just a matter of minutes. I'll wait for a pullback before considering.
DASH has indeed been fierce in this recent rally, rising 35% in a short period and becoming the hot topic of the market. However, behind this surge, there are actually many hidden clues in the market.
**What happened on the weekly chart**
From the weekly chart, DASH suddenly broke out from a long-term bottom consolidation zone. This breakout has two particularly obvious features: first, the trading volume hit a new high in nearly two years; second, it directly broke through several long-standing resistance moving averages. This pattern usually indicates that the main funds are actively pushing the trend. The resistance zone above is roughly between $100 and $120. If the weekly trend continues to strengthen, there's a good chance it will approach this area.
**But short-term risks are also present**
The daily RSI has already surged to around 94, which is in the extreme overbought zone. This means that although the trend looks very strong, profit-taking has already accumulated quite heavily. When might a violent shakeout occur? It could be right now. At that time, the price might either fall back to the MA7 or crash towards the MA25, which are not unusual events.
**How to view this market**
If only looking at the technical aspect, this is indeed a good trend swing opportunity with a high probability of success. The weekly breakout has sustainability and room for further imagination. But the problem is—current entry points are somewhat awkward. The rally has already been so large that the risk-reward ratio is no longer very balanced. If you want to participate, instead of chasing the high, it’s better to wait for a pullback. When the price re-tests a strong support level or the daily RSI pulls back from the overbought zone, the entry probability will be higher.