DASH traders, the $63 rebound is in – Is it time to aim for $130?
Key Takeaways
Why is Sprint rallying?
A retest of the important thing Fibonacci retracement stage at $63 yielded a constructive response, showcasing bullish energy and swaying short-term sentiment.
What are the subsequent worth targets?
A rally previous $100 would probably take Sprint to new highs for the yr, to $176.
In a earlier report, AMBCrypto highlighted how a number of the privateness tokens, equivalent to Sprint [DASH], have been present process a retracement.
This retracement had been swift and deep, however Sprint has begun to get better from key help ranges.
In latest days, the bullish efficiency of ZCash [ZEC] additionally boosted the probabilities of restoration inside the sector. There was a forty five% rally, measured from the low DASH made on Thursday, the thirteenth of November, at $61.6.
This deep retracement had been a wholesome reset for the market.
On the time of writing, key retracement ranges and better timeframe help ranges have been again in bullish management. It appeared probably that the present rally would go larger.
Mapping the subsequent DASH worth targets
Supply: DASH/USDT on TradingView
Based mostly on the impulse transfer larger that started within the ultimate week of October, a set of Fibonacci retracement ranges was plotted. They confirmed that Sprint costs revered the 78.6% retracement stage at $63 as help.
Over the previous few days, the shopping for quantity at this help stage swelled and introduced concerning the latest worth surge to $99.
The swing construction was bullish, and the response at a key Fibonacci help stage was encouraging.
Moreover, the $77.9, which was an essential help stage on the weekly timeframe, had additionally been defended.
Brief-term construction stays supportive
Supply: DASH/USDT on TradingView
On the 4-hour chart, momentum remained bullish.
The CMF stayed above +0.05 over the previous two classes, signaling sustained buy-side strain. The $76–$82 imbalance (cyan zone) was crammed and later retested, which launched one other swift rally.
That transfer strengthened DASH’s short-term outlook. Merchants might goal $130 if bullish momentum holds. A broader continuation may elevate the value towards the $176 Fib extension if consumers preserve management.
In the meantime, a drop beneath $76 would invalidate this bullish concept.
Disclaimer: The knowledge offered doesn’t represent monetary, funding, buying and selling, or different forms of recommendation and is solely the author’s opinion
