DASH could reach $176 if it surpasses $100.

In a previous report, Coinphoton pointed out that some privacy coins like Dash (DASH) are undergoing a strong correction.

This adjustment occurred quickly and deeply; however, Dash has started to recover from important support zones.

Recently, the positive developments of ZCash (ZEC) have also contributed to the overall recovery of the privacy cryptocurrency group. The price of DASH has recorded an increase of 45%, from the bottom established on Thursday, November 13, at $61.6.

The recent deep adjustment is seen as a step towards a healthy reconstruction for the market.

At the current time, the important correction zones and major timeframe support levels have come back under the control of the buyers. This indicates a high likelihood that the current price increase will continue to expand.

Determine the next price targets for DASH

Based on the strong growth momentum that began in the last week of October, Fibonacci retracement levels have been established. The results show that the price of Dash has maintained the support area at the 78.6% retracement level, corresponding to $63.

Source: TradingViewIn the past few days, the buying volume at this support zone has increased significantly, leading to a price increase up to $99.

The price oscillation structure is currently leaning towards an upward trend, along with a positive response at the important Fibonacci support zone.

In addition, the level of $77.9 – which is the key support area on the weekly timeframe – has also been successfully defended.

The short-term structure still supports the uptrend

On the 4-hour chart, market momentum continues to lean towards the buyers.

Source: TradingView The CMF indicator has remained above the +0.05 threshold in the last two sessions, reflecting stable buying pressure. The imbalance zone $76–$82 (cyan zone) has been filled and retested, thereby triggering another rapid price increase.

This development has strengthened the short-term outlook for DASH. If the upward momentum continues to be maintained, traders may aim for a target of $130. In the event that the bullish trend is extended, the price could move towards the Fibonacci extension $176 if buyers maintain control.

On the contrary, if the price drops below $76, this bullish scenario will no longer be valid.

Mr. Teacher