Dash (DASH) gained more than 10% in the early hours of 23 October, as technical and derivatives-market indicators showed strengthening bullish positioning.
Technical indicators turn bullish
Chart analysis showed that the Aroon Up line crossed above the Aroon Down line, a signal of increased buying pressure. At the time of writing, Aroon Up stood at 100.00% and Aroon Down at 42.86%.
The Moving Average Convergence Divergence (MACD) indicator also formed a bullish crossover, with the MACD line crossing above the signal line.
Funding rate and open interest rise
In the perpetual market, the Funding Rate moved from -0.0080% to 0.0056%. A positive Funding Rate indicates that long positions outweigh short positions.
Open Interest rose by more than 16%, with an additional $14 million in fresh capital inflows, bringing DASH's total perpetual market capital to roughly $87.62 million.
Sentiment and volume improve
Sentiment for DASH stood at 4.22 on CoinMarketCap's scale, which ranges from -10 to 10, implying a strong bullish outlook.
Perpetual trading volume rose 77% to $218 million. Rising volume alongside a price increase strengthened the case for the asset's upward move, according to the market data cited.
Key figures
- DASH gained over 10% on 23 October.
- Aroon Up was 100.00%, while Aroon Down was 42.86%.
- The Funding Rate turned positive at 0.0056%.
- Open Interest increased by over 16%, with $14 million in fresh inflows.
- Perpetual trading volume rose 77% to $218 million.
