Dash price has gone parabolic over the past few days, reaching its highest level since Jan. 22 as demand for privacy tokens jumped.
Summary
- Dash price soared over 80% on Tuesday.
- Decentralized perpetual exchange Aster listed Dash last week.
- Technical signals on the weekly chart are inclined in favor of an upside rally for Dash.
According to data from crypto.news, Dash (DASH) soared 83% to an intraday high of $147.86 before settling at $130.31 at press time. At this price, the privacy coin is up 167% over the past week and over 350% from its October low.
Dash’s market cap has tripled from $520 million on Friday to over $1.62 trillion. Its spot-market volume jumped 73% to $1.66 billion, its highest level in months.
The token surged alongside a broader revival in investor demand around privacy-centric cryptocurrencies, as discussions around on-chain anonymity, censorship resistance, and financial sovereignty continue to gain momentum. One standout example is Zcash (ZEC), which has gone nearly parabolic in recent weeks, soaring from under $50 to almost $455, marking a staggering 183% gain over the past 30 days.
Other privacy peers like Railgun (RAIL) and Horizen (ZEN) have also seen strong rallies, jumping roughly 139% and 101% respectively over the past month. In just the last 24 hours, the privacy coin sector climbed another 3.1% to reach a total market cap of $25.6 billion.
Another key catalyst behind the token’s recent rally was its listing on the decentralized perpetuals exchange Aster on Nov. 2, which rolled out support for perpetual trading with up to 5x leverage.
Exchange listings often serve as a short-term price booster, increasing both visibility and liquidity while attracting fresh trading interest around a token.
At the same time, the project has rolled out several updates over the past month that support DASH adoption, and these developments seem to have rekindled investor confidence in the project. See below.
Data from CoinGlass show that its futures open interest has been in a strong uptrend. It spiked at a record high of $105.5 million, up sharply from the year-to-date low of less than $8 million. Soaring open interest is another sign of robust demand.
Dash offers a unique approach to ensure transaction privacy. It relies on standard miners to validate and secure transactions, but also features Masternodes that power advanced functions like InstaSend and PrivateSend.
InstaSend enables fast transactions by using Masternodes to quickly lock the inputs, allowing transfers to be confirmed almost instantly. On the other hand, PrivateSend offers user privacy by mixing multiple transactions together through a decentralized network and making it difficult to trace the origin of funds.
Technical indicators suggest there is underlying strength behind Dash’s rally and point to a setup that could keep the token on its upward path.
On the weekly chart, the MACD lines are trending upward with growing green histograms, a telltale sign of increasing bullish momentum.
The Aroon indicator also supports this outlook, with the Aroon Up at 100% and Aroon Down at 0%, reflecting a strong, sustained uptrend.
Meanwhile, the RSI has crossed above the overbought threshold. Although this typically signals stretched conditions, it doesn’t necessarily indicate an immediate pullback, especially if broader momentum remains intact.
For now, the next key resistance for Dash price lies at $158.46, a level that the token has failed to breach since 2021. A decisive breakout above it could open the door for a move toward $193.76, which aligns with the 38.2% Fibonacci retracement level.
On the downside, a drop below key support at $78.30 would invalidate the bullish setup and expose the token to further losses, potentially down to $18, the low recorded earlier in September.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
