DASH Technical Analysis Feb 23

DASH market structure is trapped in sideways consolidation; lower swing lows are being tested along with short-term bearish signals, BOS levels will determine the trend change.

Market Structure Overview

DASH is exhibiting a sideways structure in the 32.72-34.56 range with its current price at 33.06 USD. Trading below the short-term EMA20 (38.02 USD) and Supertrend giving a bearish signal points to a bearish short-term consolidation structure. In multi-timeframe (MTF) analysis, a total of 13 strong levels were identified across 1D, 3D, and 1W timeframes: 3 supports/2 resistances on 1D, 2S/2R on 3D, 2S/3R balance on 1W making the overall structure neutral but higher timeframe resistances dominant. The higher highs/higher lows (HH/HL) bullish structure is broken; recently lower highs (LH) and potential lower lows (LL) formations are observed, increasing the risk of bearish change of character (CHoCH). RSI at 35.56 approaching oversold territory while MACD shows a positive histogram suggests short-term bounce potential but the overall structure awaits a breakout.

Trend Analysis: Uptrend or Downtrend?

Uptrend Signals

Critical for HH/HL structure: A close above the recent swing high at 33.1533 USD could trigger a bullish BOS by forming a new HH. MACD’s bullish histogram and RSI’s low level (35.56) could attract dip buyers; breaking above the 24-hour range upper band at 34.56 USD could preserve the HL structure. However, as long as it remains below EMA20, these signals remain weak; bullish continuation requires opening the path to the 58.9532 USD swing high (score: 50/100).

Downtrend Risk

LH/LL patterns dominant: Consolidation below the recent lower high at 33.1533 USD increases LL risk. Supertrend bearish and price below EMA20 confirm the short-term bearish trend. A break below 32.7633 USD swing low confirms CHoCH, strengthens LH/LL structure, and accelerates descent to 30.8300 USD and even 29.0938 USD supports. The 24h -1.90% drop supports this bearish bias.

Structure Break (BOS) Levels

Bullish BOS: Daily close above 33.1533 USD swing high shifts the sideways structure to HH/HL and opens the path above 34.56 USD range. If broken, the next target is the previous swing high at 58.9532 USD. Bearish BOS: Close below 32.7633 USD (score:70/100) shifts the structure to LH/LL; subsequently 30.8300 USD (73/100) is tested. In a deeper break, 29.0938 USD (67/100) and ultimate bearish target 10.8598 USD (22/100) come into play. These BOS levels are key structural thresholds determining trend continuation or reversal.

Swing Points and Their Importance

Recent Swing Highs

33.1533 USD (score:62/100): Nearby resistance, failure to break here continues LH formation. 58.9532 USD (60/100): Long-term major swing high, targeted on bullish BOS but remains distant under current sideways. The importance of these levels lies in supporting short positions as resistance and creating momentum on breakout.

Recent Swing Lows

30.8300 USD (73/100): Strong support, holding here preserves sideways. 32.7633 USD (70/100): Current test level, break triggers bearish BOS. 29.0938 USD (67/100): Deep support, confirms LL structure. Swing lows offer long entry points as support while breaks signal reversal.

Bitcoin Correlation

BTC at 67,566 USD in downtrend (24h -0.60%), key supports 67,628/64,541 USD and resistances 68,046/70,909 USD. BTC Supertrend bearish and rising dominance signal caution for altcoins: DASH highly correlated with BTC, if BTC drops below 64,541 USD, DASH tests 30.8300 USD support. BTC recovery above 68,046 USD supports DASH 33.1533 USD BOS. BTC key levels should be monitored: DASH Spot Analysis and DASH Futures Analysis are determined by BTC structure.

Structural Outlook and Expectations

Overall structure sideways with bearish bias; high LH/LL risk while HH/HL requires 33.1533 USD BOS. MTF shows excess resistances (1W 3R) making reversal difficult. Watch: Hold at 32.7633 USD support preserves sideways, break confirms bearish trend. No recent news, pure structure-driven. Educational note: BOS confirms trend change via swing point breaks; always validate levels with stop-loss.