Dash (DASH) is showing early signs of a bullish rebound on Wednesday, February 25, after breaking out of a weekly falling wedge pattern, a technical setup widely recognized as a reversal signal.
The crypto analyst, Jonathan Carter, suggests that downward momentum may be waning, making this a key moment for potential upward movement.
Currently, the previous resistance line has flipped into support, with a second retest underway. Early indications show buyers defending this level successfully, a classic confirmation of bullish control.
If this support holds, it could validate momentum for further gains, signaling growing confidence among traders that the token is ready to resume its upward trajectory.
Also Read: Dash Faces Key Resistance as Bears Push Price Toward $92.52 Target
DASH Weekly Retest Signals Potential Rally Ahead
If the retest holds strong, DASH has the potential to reach multiple levels in the coming weeks, such as $40, $75, $140, and $250, where it might find resistance to its upward momentum.
Jonathan Carter is urging traders to strategically use these levels for entry or profits, which again highlights the importance of taking a cautious approach for traders who are interested in profiting from DASH’s bullish continuation.
Source: TradingView
Market sentiment seems to be increasingly positive, and technical indicators are matching bullish patterns. Traders and investors are advised to be patient, as confirmation is needed on the weekly chart.
Holding up the support level is a prerequisite to start the next rally, which would boost confidence in a rising price trend.
Momentum Indicators Reinforce Positive Momentum
According to TradingView data as of Monday, February 25, currently, the RSI is at 57.26. It has been rising from a low of 42.79. The RSI has risen again to cross the 50-line.
This indicates an increase in buying pressure. It has not risen to the 70 line, which is considered overbought. This suggests there is room for more increases.
Source: TradingView
The MACD also indicates bullish signs. MACD at 0.31675 has crossed above the signal line at -0.23091. A bullish crossover has occurred. Increasing bullish histogram bars indicate the strength of the momentum.
With the combined bullish signs from the RSI and MACD, it seems like the price of DASH will continue to move upwards in the near future.
Also Read: Dash Bulls Targets 500% Surge Following Historical Re-Accumulation Patterns