#Gate广场万圣节 Could DASH rise further after crypto futures trading volume surged 77%?

Privacy-focused cryptocurrency Dash (DASH) continued to rally, rising more than 10% in the early hours of October 23. Notably, market sentiment suggests DASH still has room to rise further as its upward momentum continues to build.

DASH’s upward momentum is strengthening.
Recent analysis of the Aroon and Moving Average Convergence/Divergence (MACD) indicators suggests DASH may continue to rise. 0As of writing, the Aroon indicator shows Aroon Up has crossed above Aroon Down, indicating increased buying pressure.
Generally, the wider the gap between Aroon Up and Aroon Down, the greater the buying pressure in the market.
Accordingly, the market remains bullish, with the Aroon Up reading at 100.00% and the Aroon Down reading at 42.86%, confirming that bulls remain in control.
In addition, the Moving Average Convergence/Divergence (MACD) indicator reinforces the bullish outlook: the MACD has formed a golden cross, with the MACD line crossing above the signal line. This classic bullish pattern often attracts more buyers as investors continue to accumulate the asset.

Funding Rate and Open Interest Rise
Capital allocation in the perpetual market hints at the reason behind DASH’s surge. The Funding Rate tracks capital allocation in the perpetual market and indicates whether it is dominated by longs or shorts; the reading points to the former. As of writing, the funding rate has risen from negative territory at -0.0080% to a high of 0.0056%. A positive funding rate indicates that long positions outnumber short positions in the perpetual futures market.
Likewise, as the funding rate turned positive, capital flowing into the perpetual market also surged.
As of writing, DASH’s open interest (OI) surged more than 16%, with $14 million in new capital inflows, bringing its total perpetual market value to around $87.62 million. The surge in the funding rate and open interest also indicates that investors are moving funds into DASH’s perpetual market, anticipating further price gains.

DASH Sentiment and Trading Volume Improve
Market sentiment and trading volume remain positive, with investors generally believing DASH may continue to rise in the short term.
At the time of writing, DASH’s sentiment index stood at 4.22, indicating strong bullish sentiment toward DASH and suggesting investors may continue accumulating the asset. CoinMarketCap’s sentiment index ranges from -10 to 10. When sentiment is clearly positive, as it is for DASH now, the rally is more likely to continue.
Likewise, trading volume has increased significantly. In the perpetual futures market alone, volume rose 77% to $218 million. The simultaneous rise in trading volume and price further strengthens the likelihood that the asset will sustain its upward momentum.$DASH