After DASH fell below $30, it quickly found buying support, with the price rising to around $35 before falling back to $34.30. The intraday gain was approximately 11%, but trading volume declined by 42% during the same period, indicating weak market participation in this rebound.
Derivatives Funds Return
After prices stabilized, traders re-entered the DASH derivatives market. Open interest rose to $46 million, a 19% increase from the previous day, indicating a significant increase in new positions and a recovery in short-term risk appetite.
Over the past five days, the DASH futures market experienced continuous outflows, with sellers dominating. In the last 24 hours, this trend reversed, with inflows of approximately $23.4 million and outflows of approximately $22.9 million, resulting in a net inflow of approximately $508,000 into futures.
There is still selling pressure in the spot market.
Unlike the recovery in the futures market, profit-taking continues to occur in the spot market. CoinGlass data shows that net inflows of DASH spot trading into exchanges have remained positive over the past three days, currently estimated at approximately $208,000.
Net inflows into the spot market typically indicate that more tokens are being transferred to exchanges, leading to increased selling pressure. Although prices have rebounded in the short term, some investors still tend to take advantage of the rebound to reduce their positions, which weakens the foundation for further upward movement.
$41 remains a key level
Momentum indicators show that the short-term rebound in DASH has strengthened, but the overall trend has not yet fully turned bullish. The stochastic momentum index has returned above the signal line, but it is still in negative territory, indicating that the recovery of bullish power is limited.
Meanwhile, the price remains below the MACD-SMA, indicating a still weak market structure. For the daily rebound to continue, DASH needs to rise further above $41; if short-term speculative funds recede, the $30 support level may be tested again, and the price may fall back to around $29.
