DASH Token Sees 5.83% Drop Amid High Volatility and Surging Trading Volumes on Binance

DASHUSDT experienced a 5.83% price decline over the past 24 hours, with the current price at 75.77 USDT on Binance. This decrease follows heightened volatility driven by mixed technical signals: while earlier in the week DASH broke out of a multi-month descending channel and saw bullish momentum supported by retail demand and record trading volumes, recent large short positions and a concentration of liquidity above market levels have contributed to short-term selling pressure. Reports from January 19 indicate conflicting market outlooks, with both bullish indicators (positive MACD, potential breakout above key Fibonacci levels) and bearish signals (negative MACD, volatility spikes, and lower closes) influencing sentiment. The spot trading volume on Binance remains strong at 10.97 million USD, and the 24-hour DASH/USDT trading volume across major platforms has surpassed $100 million, highlighting continued high activity despite the recent pullback.