Stop ignoring whale signals on DASH - Chain analysis reveals heavy selling activity

The price of DASH (DASH) is currently declining to $39.40, with a loss of 7.05% over the past 24 hours, but the true indicators of selling pressure are clearly visible through on-chain data. Stop relying solely on green candles; on-chain data tells a completely different story from what most retail traders see.

Whale Data Reveals a Sharp Split in Trading Positions

Data shows that 127 whale addresses (large wallets) are currently holding short positions and are in increasing profits. At the same time, 101 whale addresses are suffering floating losses exceeding $1 million in long positions. This split reflects a real battle between major traders, with some betting on continued decline while others are suffering from investment setbacks.

When small wallets buy based on the recent limited rise, big players are liquidating their short positions at higher prices, indicating that this rally could be just a liquidity trap before the next drop.

Technical Levels Show Repeated Resistance Pattern

The price is currently testing the resistance zone at $63.60 - $65.00, which is the same as the 99-period exponential moving average (EMA99). This level is no coincidence; it represents a true test of upward strength. As long as the price remains below this zone, the accumulated selling pressure will continue to dominate the price movement.

Potential Entry Signals and Price Targets

The first bearish signal will appear when a simple candle closes below $61.50. Stop waiting for multiple confirmations; this level alone will be enough to confirm that the recent rally lacked real strength. If this level is broken, the potential target drops to $55.00, which is a previous support zone.

The Reason Behind This Analysis

Stop relying solely on green candles as an indicator of upward movement. Data shows that the price is hitting resistance at the EMA99 while strong selling pressure from whales persists. Whales who bet on the rise are now trapped in losing positions, increasing the likelihood of a reversal. This convergence between on-chain data and technical resistance provides a clear picture of the potential trend in the coming weeks.

The current number of DASH wallet addresses is approximately 1.7 million active addresses, reflecting a strong distribution of ownership. However, the whales’ focus on short positions indicates a clear expectation from the largest traders.