Dash (DASH) Price: Is This Privacy Coin the Next to Explode After Monero?

TLDR

• Dash (DASH) surged 85% in one week to reach $59 on January 14, driven by momentum in privacy-focused cryptocurrencies.
• The coin broke out of a falling wedge pattern, with technical analysis pointing to a potential target of $93.50 by March.
• Monero recently hit record highs, leading a broader rally in privacy coins that benefited Dash and other alternatives.
• Open interest in DASH futures reached multi-month highs while short liquidations totaled $1.3 million, adding fuel to the rally.
• OKX expanded DASH spot trading across Europe, improving liquidity and access for larger traders.

Dash climbed to approximately $59 on January 14, posting an 85% gain over the previous seven days. The privacy-focused cryptocurrency joined a broader rally in the sector led by Monero.

The DASH/USDT trading pair broke above the upper trendline of a falling wedge pattern on the daily chart. This technical formation develops when price creates two descending, converging trendlines. Breakouts from this pattern typically target a level equal to the maximum distance between the upper and lower trendlines.

Based on these measurements, Dash has entered the breakout stage. The technical target sits around $93.50, representing potential upside of 56% from current levels. This projection extends into March.

The relative strength index on the daily chart moved above 70, entering overbought territory. This reading increases the probability of a pullback toward support in the $47 to $50 range. This zone aligns with the 0.786 Fibonacci retracement level.

Privacy Coin Sector Sees Capital Rotation

The recent price action reflects a shift in capital within the privacy coin market. Monero reached new all-time highs as traders moved funds toward established privacy protocols.

Zcash faced governance issues and developer departures, prompting investors to explore alternatives. Dash avoided similar disruptions and maintained its on-chain governance structure.

This stability positions Dash as a potential destination for capital flowing through the privacy coin sector. The cryptocurrency has historically trailed during the initial phase of privacy-led rotations before attracting interest as capital spreads more broadly.

Trading volume for Dash exploded by more than 700% during the rally. Open interest in DASH futures jumped to multi-month highs while funding rates turned positive.

Exchange Expansion and Derivatives Activity

OKX expanded DASH spot trading across European markets. The improved access reduced slippage and enabled larger traders to participate in the market.

Increased liquidity on regulated exchanges made Dash more attractive compared to smaller tokens with limited trading depth. The presence on major platforms supported the price advance.

Derivatives markets added momentum to the move. Short sellers faced pressure as prices accelerated, with approximately $1.3 million in liquidations. This forced buying created additional upward pressure on the price.

The average directional index increased, confirming the strength of the trend move rather than random price fluctuation. On-balance volume climbed, indicating genuine buying pressure remained active.

Volatility expanded during the breakout phase, a typical characteristic of such price movements. The 4-hour chart showed Dash breaking through multiple resistance levels after an extended consolidation period.

Dash maintained its position as the top gainer across the cryptocurrency market on January 13, trading near $61.80. The Dubai regulatory environment and discussions around privacy coins contributed to renewed trader interest in projects with optional privacy features and established track records.

A decline in Bitcoin dominance and rising Altcoin Season Index readings helped direct capital toward alternative cryptocurrencies. If Dash holds above the $55 to $58 area, it would suggest buyers remain in control of the near-term trend.

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