【$DASH Signal】Hold Off, Waiting for Downward Momentum to Exhaust

$DASH Continued downward decline on the daily chart, with a retracement pattern on the 4H chart. Price has broken below all EMA lines, but the short-term RSI has entered the oversold zone.

🎯Direction: Hold Off

Market Analysis: The price has been closing lower on the 4H chart. The latest candle has a lower shadow but still closes near the previous low, indicating selling pressure remains dominant. The order book shows significant ask volume (sell orders) around 33.0-33.1, forming a short-term strong resistance. Bid volume (buy orders) is supported around 32.7-32.8 but lacks depth, making it vulnerable to being broken.

Core Logic: The current key contradiction is between the negative funding rate (-0.0397%) and stable open interest (OI). This is not typical of a long squeeze (where OI would decrease), but more like short sellers actively opening positions or spot selling pressure driving the decline.

Although RSI (30.8) indicates oversold conditions, in a downtrend, oversold alone is not a reversal signal. Wait for clear signs of a trend reversal, such as: 1) a volume-confirmed Pin Bar or bullish engulfing pattern at key support levels (e.g., daily low around 32.0). 2) On the 4H chart, rising OI combined with a return to positive funding rate, indicating short covering or new longs entering.

Currently, the price is within the lower band of the downtrend channel. Long positions lack structural support, while short positions face oversold rebound risks, resulting in poor risk-reward. The best strategy is to stay on the sidelines and wait for the market to make a decisive move at key levels.

Trade 👇 $DASH

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