Dash / TetherUSLong
Dash/USD
Bullish Analysis for Dash/USDT Weekly Chart
Dash appears to be entering a bullish phase following a significant breakout. Here's a breakdown of the bullish scenario based on the chart:
1. Triangle Breakout as a Bullish Trigger:
The descending triangle pattern, which typically leans bearish, has broken to the upside.
This signals a trend reversal and indicates that buyers have regained control after a long period of consolidation.
2. Key Support Levels for Bulls:
$57.56: The breakout point now serves as immediate support. Holding above this level is critical for maintaining bullish momentum.
$39.72 and $37.05: Deeper supports that indicate the last line of defense for bulls. A breakdown below these levels would invalidate the bullish outlook.
3. Resistance Levels to Watch:
$129.47: The first major target for bulls. This level has historically acted as resistance and will likely face significant selling pressure.
$214.52–$215.23: A critical level to breach for a long-term bullish trend. A break above this could open doors to much higher prices, possibly testing $300+ in the long run.
4. Bullish Indicators:
Volume Increase: The breakout has been accompanied by a notable increase in trading volume, which is a positive confirmation for the bullish move.
Momentum Shift: The recent price action suggests a shift in sentiment, with bulls stepping in after an extended accumulation phase.
5. Short-Term Bullish Scenario:
Bulls should aim to consolidate above $57.56.
A steady climb toward $129.47 would confirm the continuation of the uptrend.
Partial profit-taking around $129.47 could be a prudent move, given the potential resistance.
6. Long-Term Bullish Scenario:
If the price clears $129.47 with strong momentum, the next target is the $214.52–$215.23 zone.
Breaking this zone would signal the start of a major bull run, potentially retesting previous highs near $300 or higher.
Strategic Plan for Bulls:
Entry Points:
Accumulate on pullbacks to $57.56 or trendline retests.
Stop-Loss:
Place stops below $56 to protect against invalidation of the breakout.
Targets:
Short-term: $129.47.
Medium-term: $214.52.
Long-term: $300+ (if momentum sustains).
Dash appears to be entering a bullish phase following a significant breakout. Here's a breakdown of the bullish scenario based on the chart:
1. Triangle Breakout as a Bullish Trigger:
The descending triangle pattern, which typically leans bearish, has broken to the upside.
This signals a trend reversal and indicates that buyers have regained control after a long period of consolidation.
2. Key Support Levels for Bulls:
$57.56: The breakout point now serves as immediate support. Holding above this level is critical for maintaining bullish momentum.
$39.72 and $37.05: Deeper supports that indicate the last line of defense for bulls. A breakdown below these levels would invalidate the bullish outlook.
3. Resistance Levels to Watch:
$129.47: The first major target for bulls. This level has historically acted as resistance and will likely face significant selling pressure.
$214.52–$215.23: A critical level to breach for a long-term bullish trend. A break above this could open doors to much higher prices, possibly testing $300+ in the long run.
4. Bullish Indicators:
Volume Increase: The breakout has been accompanied by a notable increase in trading volume, which is a positive confirmation for the bullish move.
Momentum Shift: The recent price action suggests a shift in sentiment, with bulls stepping in after an extended accumulation phase.
5. Short-Term Bullish Scenario:
Bulls should aim to consolidate above $57.56.
A steady climb toward $129.47 would confirm the continuation of the uptrend.
Partial profit-taking around $129.47 could be a prudent move, given the potential resistance.
6. Long-Term Bullish Scenario:
If the price clears $129.47 with strong momentum, the next target is the $214.52–$215.23 zone.
Breaking this zone would signal the start of a major bull run, potentially retesting previous highs near $300 or higher.
Strategic Plan for Bulls:
Entry Points:
Accumulate on pullbacks to $57.56 or trendline retests.
Stop-Loss:
Place stops below $56 to protect against invalidation of the breakout.
Targets:
Short-term: $129.47.
Medium-term: $214.52.
Long-term: $300+ (if momentum sustains).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.