\DASH – Rising Wedge Near Key Resistance📊 DASH – Rising Wedge Near Key Resistance
DoorDash (DASH) has been climbing steadily, but the price action is now pressing into a critical zone. Let’s break it down:
🔎 Technical Setup
Rising Wedge: Current structure shows a rising wedge (bearish pattern) suggesting momentum is weakening.
Premium Zone (~264–266): Price is approaching a supply/resistance area aligned with Fibonacci extension levels.
Volume: Recent spikes in volume near resistance indicate potential distribution.
Liquidity Zones: Below, we have equilibrium at ~253 and a strong demand block near 249–250. If the wedge breaks down, these are natural magnets.
📈 Bullish Case
If DASH can break out above 266 with volume confirmation, next upside targets are:
274 (2.414 fib extension)
278–280 (2.618 fib extension)
📉 Bearish Case
A breakdown from the wedge would target:
256.1 (first support)
249–250 (major support / discount zone)
Below that, potential retest of 238–240.
⚖️ Summary
Currently, DASH looks bearish short-term due to the rising wedge into heavy resistance, but bullish medium-term if it can reclaim 266+ with strength.
📌 Trading Plan:
Watch for wedge breakdown confirmation before short setups.
If 266 breaks with momentum, favor longs targeting 274+.
Manage risk carefully—momentum is stretched, and volatility is likely.
