DASH was once one of the largest cryptocurrencies by market capitalization, peaking in 2017. However, its decline has been steep, and DASH currently ranks as the 152nd biggest crypto by market cap, a far cry from its highest-ever spot of 3.
The altcoin showed promise with a breakout in 2024, but those gains vanished in 2025. Currently, DASH risks breaking down from a critical horizontal support level.
The key question is: Will DASH plunge to new lows, or can it muster enough strength for a reversal? Let’s find out.
DASH Returns to Support
The weekly time frame shows that the DASH price has fallen since its all-time high in 2017. Therefore, DASH did not reach new highs in the previous market cycle. Rather, it created a lower high before resuming its downward trend.
The price did not fare better in 2022 or 2023 since every rally led to lower highs, creating a descending resistance trend line.
The DASH price finally showed promise with a breakout from the trend line in November 2023, leading to a high of $71.57. However, this could also not be sustained, and the DASH price has fallen.
Currently, DASH trades inside the $22 horizontal support area. The next support is at $9, a level not seen in over 3,000 days. So, the DASH price must maintain the current support to prevent a large-scale breakdown.
Nevertheless, technical indicators are bearish. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are falling. The RSI is below 50, while the MACD is negative, signaling a bearish trend.
As a result, the weekly time frame gives a bearish DASH prediction, indicating a breakdown is in the cards.
Breakdown Ahead?
The daily time frame fits with the bearish readings from the weekly one. The wave count shows a completed A-B-C structure between July – December 2024. Since the corrective structure moves upward, the trend is bearish.
This becomes even more likely when observing the ensuing decline, which is a five-wave downward movement (red). The black sub-wave count shows an extended third wave, which will be confirmed with the breakdown from a symmetrical triangle.
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The first potential target for the bottom of wave three is at $14.49, created by giving it 1.61 times the length of wave one. Then, the fifth and final wave can end at the long-term support of $9.
The daily RSI aligns with this outlook. However, the 50 line rejected it, and the RSI risks breaking its bullish divergence trend line.
Alternatively, a decisive bounce at the $22 level that created a weekly bullish engulfing candlestick would invalidate this outlook and suggest the trend is bullish instead. This currently seems unlikely.
Bearish DASH Trend
The DASH price has been on a bearish trend for the past five years and shows no signs of an imminent bullish reversal.
A breakdown below $22 could plunge the price to $9, the horizontal support area.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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