DASH has been consolidating in the $34 to $40 range for the past three weeks. The latest rebound briefly pushed the price up to $36.94, a new high since June 15, but the gains were subsequently given back significantly, indicating that buying power is still insufficient to directly challenge the resistance above.

The break below support has not been confirmed.

This rebound began after a brief dip to $33.50. Although it briefly broke below the lower end of the range, it did not form a valid daily breakdown, and sellers failed to extend the decline. Subsequently, buying quickly returned, pushing DASH back up.

It's worth noting that this upward surge was accompanied by the strongest trading volume since the range was formed, indicating that it wasn't simply a technical pullback. However, the price quickly fell back to around $35.38, meaning that market demand was still insufficient to push DASH directly to test $40.12.

The upper clearing zone limits the rebound.

Looking at the leveraged position distribution, DASH's recent price action remains highly sensitive to liquidation zones. Previously, the price rebounded from below $34, first clearing out some of the dense liquidation areas below, followed by short covering bringing further buying pressure and pushing the price closer to $37.

However, once the price entered the $36.50 to $38.35 range, denser liquidation levels above began to suppress the price action, and the upward momentum slowed. The price subsequently fell back to around $35.50, giving back most of the previous day's gains.

This indicates that the previous rise was largely driven by passive buying resulting from leveraged position liquidations, rather than by sustained directional capital inflows. Currently, there is still active liquidity below $34 to $35, while a larger liquidation pool exists above, leaving the price trapped between these two liquidity levels.

Breakout from the range remains key

If DASH can regain its footing above $36.94 and break through $40.12 with significant volume, the current consolidation structure may shift to a clearer recovery trend, with the next target area around $48.

Conversely, if prices fall below $34 again, the recent rebound structure will be broken, and the probability of the market falling back to the $29.40 support zone will increase.

Overall, DASH is currently still in a range-bound trading phase. Although there are signs of weakening bearish momentum, the resistance above and the dense liquidation zone have not yet been effectively digested. In the short term, it is more likely to continue to experience sharp fluctuations rather than immediately forming a one-sided trend.