DASH's Rally Faces Bearish Technicals as Traders Eye Key Support Levels

DASH has surged to a 10-month high amid broader market recovery, with its price climbing 35% in the past 24 hours to reach $57.87. The digital asset's recent breakout from a five-year descending wedge pattern has reignited interest in its payment-focused ecosystem and technical fundamentals. However, traders and analysts caution that overbought conditions and negative funding rates suggest the rally may be nearing a correction.

According to Coinpedia, DASH's price surge follows months of consolidation between $17.70 and $26.25, with its current level above key moving averages and the 50% Fibonacci retracement level. The asset's Relative Strength Index (RSI) has hit 84.45, signaling overbought territory and potential exhaustion in buying momentum. Yahoo Finance notes that perpetual futures traders have opened short positions against DASH, with a negative funding rate of -0.037% indicating growing bearish sentiment.

Longforecast.com projects a volatile trajectory for DASH through 2029, with price targets ranging from $70 to $100 in 2025, followed by a decline to $46–$50 in 2028. The data highlights a 61.8% Fibonacci extension target of $100 for the long term but cautions that sustained adoption and network upgrades will determine its upside. Coinpedia analysts emphasize that DASH's masternode structure and self-funding model provide long-term resilience, but immediate support levels at $35–$50 could test its sustainability.

Market participants are divided on DASH's near-term outlook. While its 96% year-to-date gain and $70–$100 price target attract bullish investors, the overbought RSI and short-term technical indicators suggest a potential pullback. Coinpedia highlights the importance of $52 support and $70 resistance levels, with a break below $50 potentially triggering a decline to $44.64. Yahoo Finance adds that institutional adoption of DASH Pay and upgrades to its payment infrastructure could mitigate downside risks.