Cryptocurrency analyst Joao Wedson has issued a notably bullish forecast for Dash (DASH). According to Wedson, recent breakouts in key on-chain indicators point to strong momentum in the Dash price.
Wedson stated, “Dash could reach $100 in a short time, and even jump above $200 if the market picks up.” The analyst specifically noted that the realized price level has been broken and the next resistance levels have formed. He stated that this level is hovering around $100.
“Currently, Dash is around $42. If the price breaks above $100, it could move towards our next target, the Alpha CVDD metric, which is around $230,” Wedson said. This zone, he said, represents the stage where long-term investors will begin to regain confidence.
Wedson also pointed out that early-stage Bitcoin whales have recently turned to older UTXO-based cryptocurrencies such as ZEC, Dash, and LTC.
The analyst, who also commented on Bitcoin, said, “BTC has reached a local bottom. I don't expect any further declines from here. We've been through a complex distribution phase and are now nearing the end of a potential accumulation phase.” However, Wedson urged investors to remain cautious, saying, “If BTC declines significantly from here, I will close all my positions in the market.”
*This is not investment advice.
