**Key Takeaways**

– DASH has surged 30%, reaching a new yearly high, driven by strong derivatives inflows, rising Open Interest, and bullish technical patterns.
– Increased profit-taking may cause a short-term correction if selling pressure surpasses bullish demand.

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Dash (DASH), the Layer-1 blockchain token designed to improve Bitcoin’s model, has been attracting growing investor interest and capital inflows. Over the past 24 hours, the privacy-focused asset surged by 30%, even though community sentiment remains somewhat cautious, with only 78% of investors holding bullish positions.

### What’s Driving the Market?

A significant driver behind DASH’s recent rally is the surge in capital inflows within the derivatives market. Open Interest (OI) — which indicates the total amount of capital circulating in this segment — rose by an impressive 55%, reaching $45.65 million at the time of writing. This increase aligns with a notable uptick in long positions.

According to CoinGlass data, the Long-to-Short ratio climbed above 1, signaling that long volumes now outweigh short volumes in the market. This trend suggests that investors remain optimistic about DASH’s future price movement, potentially sustaining the upward momentum.

Additionally, the OI-Weighted Funding Rate turned positive at 0.0087%, marking its first positive reading since the previous day and indicating renewed market strength.

### Rally Gathers Strength

DASH’s recent surge has propelled it to a new yearly high of $62. A classic technical chart pattern known as the “Cup and Handle” has formed, which often precedes a significant price rally.

Short-term analysis by AMBCrypto points to a strong probability that DASH will push further upward toward $67 — a level not seen since 2023.

At the time of writing, the Moving Average Convergence Divergence (MACD) indicator also presents a bullish signal called the Golden Cross. This occurs when the blue MACD line crosses above the orange signal line, implying the ongoing bullish momentum is robust and increasing the likelihood of new highs.

### Profit-Taking Could Slow Momentum

While derivatives liquidity has risen, some spot investors have started to take profits by selling DASH. In the last 24 hours, roughly $4.32 million worth of DASH was offloaded, likely as investors secure gains.

Such sell-offs are common during strong rallies; however, if selling pressure continues in the coming days, market sentiment could shift, and DASH might face a short-term correction.

For now, the bullish momentum seems to outweigh the selling pressure. If favorable conditions persist, DASH could still achieve significant new highs in the near term.
https://ambcrypto.com/dash-soars-30-to-yearly-high-can-bulls-target-67-next