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DASH soared 17%, Zcash ETF successfully ignited the privacy coin craze

2026-09-05 18:37:37
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Key Highlights

  • DASH rose 17.5% to US$56.85, its strongest performance since May, as the privacy coin sector rebounded overall.
  • After Grayscale's spot Zcash ETF was listed on NYSE Arca on August 25, its assets have accumulated more than US$400 million.
  • The token has increased by approximately 85% from the bottom area of approximately US$30 in mid-August.
  • Technical indicators show that the 50-day and 200-day exponential moving averages (EMA) form a "golden cross", further consolidating bullish momentum.
  • If it can stabilize at the US$52 support level, it is expected to move towards US$72; if it falls below this level, there is a risk of withdrawing to the US$40 region.

On September 4, DASH opened at US$47.46, and once surged to an intraday high of US$56.85, before stabilizing around US$55.76. This price move marks the strongest performance for the token since May and is also consistent with the broad upward trend of privacy digital assets.

The main factor driving the market seems to be Grayscale's spot Zcash investment products. The product went public on NYSE Arca on August 25 with approximately US$300 million in assets under management, and then quickly expanded to more than US$400 million. During this period, ZEC's price exceeded the US$1,000 mark and for the first time ranked among the top ten cryptocurrencies by market capitalisation.

Bullish technical form appears

DASH's price chart currently shows a "golden cross" pattern, with the 50-day exponential moving average (EMA) crossing the 200-day EMA. Traditionally, this phenomenon has been seen as a sign of bullish momentum.

In addition, the MACD indicator continues to operate above the zero axis, and the Awesome Oscillator histogram shows continued strength. The Chaikin Money Flow (CMF) indicator also remained in a positive range, indicating that funds are still flowing in. The Relative Strength Index (RSI) currently records 75.91, which is in the overbought region. This suggests that prices may experience short-term consolidation before continuing upward.

On-chain data shows that daily trading volume on the DASH blockchain is on the rise, providing fundamental support for this rebound, rather than just driven by speculative activity.

Key Support and Resistance Areas

The price range of US$55 to US$57 is the current direct resistance area. DASH tested this range twice in May, but failed to maintain the breakthrough momentum. If we can decisively break through US$57, US$60 will become a within reach.

If selling pressure arises,$48 will be the first important support level. A larger correction could push DASH back into the $43 to $44 area. Market analyst Crypto Patel pointed out that DASH once hit $54.60, with a return of 86% based on the accumulation range it identified. The analyst remains optimistic about the long-term outlook, with potential target prices of $100, 200, 300, 400 and 500 respectively, while emphasizing that holding the support range of $30 is crucial to continuing the bullish structure.

US$52 was identified as the key short-term support bottom line. Holding this level will pave the way towards the conditional target price of $72. If it cannot remain above $52, the current upward trajectory may be interrupted.

As of September 4, DASH was trading at approximately $55.76, up approximately 85% from a mid-August valuation of approximately $30.

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