Dash Price Spikes After Volatile Day Amid Descending Channel Breakout Attempt
The Dash cryptocurrency has been experiencing a volatile stretch, seeing a sharp 8.74% drop in value over the past day. According to recent data, the token's price is currently at $62.58, with futures volume reaching $376.64 million and spot volume at $48.88 million.
The heavy long liquidations of $477.58 thousand compare to short liquidations of $67.89 thousand over the past 24 hours. This imbalance suggests that the market was overcrowded on the long side before this pullback occurred.
Zooming out, Dash is up 40.17% over the past week and 96.32% over the past month. The token's price is now pushing against the upper edge of a descending channel it has been trading inside, with the way this breakout attempt resolves in the next few candles setting the tone for where Dash heads next.