Dawn's feelings ✖ ❐  - 
A analysis of Dawn's feelings (or lack thereof LMAO) for Ash and how she perceives their relationship

Actions speak louder than words

When compared to other girls and how on the nose Pokeani can be with its romantic undertones, Dawn has never shown any attraction towards Ash (or anyone for that matter). We don't get her blushing at Ash, saying out loud that she likes him, let alone kiss him, like other characters have done. Instead we get to see how much she holds him dear in her actions.

Dawn always seems to go an extra mile to show her support towards Ash. From dressing up in cheerleader clothes (along with her pokemon) to cheer for Ash in Gym rematches to traveling all the way from Sinnoh to Unova just to meet him and then again to Galar to watch his final on-screen battle.

In DP133 {Uncrushing Defeat}, after losing a 6v6 battle against Paul, Ash feels defeated about the whole ordeal and Dawn tries to go after him to help but is stopped by Brock. After that, she makes a whole theater presentation with jokes and gags to cheer Ash and his pokemon.

In DP154 {Mastering Current Events}, when Ash is training with Gliscor late at night, she makes the effort of cutting some tin foil paper to help them follow the wind and then stays the whole night with Ash and his pokemon training.

She has a tendency of doing those grandiose actions just to support him and I feel that shows better than some blushing just how much she cares for Ash.

At the end of DP, we even get 2 instances where Dawn rejects other friends to stay travelling with Ash. Specifically in DP177, where Zoey asks Dawn to come to her celebratory party in Snowpoint and Dawn rejects to accompany Ash in the Sinnoh League. And then later in DP180, where Kenny asks her to travel with him and she rejects it for the same reason she rejected Zoey. Is even more interesting to note that those two friends have also been heavily implied as romantic interests for Dawn. So to have her reject both to stay with Ash is a very interesting way of showing her feelings for him without being overbearing about it.

Lastly is worth noting that up until the very last episode of DP, Dawn had planned to stay travelling with Ash. It was only when Hermione offered her a chance to participate in a pokemon magazine that Dawn considered parting ways with Ash.

By your side

Just like Ash seems to find joy in being with Dawn, the same can be said about her. From self inviting to travel with him and Brock all the way to planning to keep traveling with them even after Sinnoh, is obvious that Dawn likes being with Ash (and Brock).

Dawn always seemed to be quite comfortable with Ash, asking him to participate along her in contests, training together, battling one another, playing and joking with him plenty of times.

In DP034 {Buizel Your Way Out Of This!}, we get her being very curious about Ash's lure that is shaped like Misty. Even asking him to lend it to her. He rejects it and instead of backing down, they have a little squarrel about it. Similar to how they would act when Ash asks about the nickname DeeDee. They both seem to enjoy learning about the other, even if some bickering happens in the way.

In movie12 {Arceus and the Jewels of Life}'s opening sequence we even get them playing around in a river and when Ash starts a water fight and she dives right into it along him. In fact, playing in water is also another thing of theirs. With them playing around in water in both of Dawn cameos post DP. It just seems so easy for them to put their walls down and just enjoy the moment when they're together.

Denser than a brick

Dawn is dense. I would argue that even more so than Ash.

We see that Kenny has feelings for her in the very first episode he appears, with the boy blushing, provoking her and even acting jealous of Ash time and time again. And yet, Dawn only realizes that when Kenny goes and says it with all words.

Gosh, Ash asks her for a dance at some point and she rejects him without a care. Dawn doesn't think about romance for herself, that much is obvious. The only time we get her even considering that is when Lyra asks her about it. And even then Dawn brushes the idea off right away.

Insecurity

As stated on her page, Dawn had been shown to be very insecure about plenty of things. And with how much she looks up to Ash, is easy to guess that even if she did undeniably said on screen that she likes him, she wouldn't have the confidence to act on it.

We even see that with Kenny in DP180 {Four Roads Diverged in a Pokémon Port}, with her having a hard time rejecting him face to face and instead choosing to do it via a letter when he makes it clear that he has romantic feelings for her.

Also, Dawn has a certain difficulty in being selfish. From releasing Pachirisu cause it was giving too much trouble to her friends to how she let Ambipom and later one Ash and Brock go despite the fact she was very hurt and didn't want to part ways.

And if we take the extra canon hints as High Touch's and Ashita wa Kitto's lyrics into consideration, we can have even more confirmation about how Dawn's insecurities could hold her back from being honest with her own feelings. Specifically excerpts such as:

There are a lot of things I want to say to you; But foremost...; "Thanks for being here for me!"

I really like you more than anyone else; You give me the courage... to say "Good morning!"; Will I be able to say it?

In both phrases above, there's this hint of her wanting to say more but being unable to. And then chickening out and saying something instead.

This all seems to imply that even if the anime committed to having her have feelings for Ash, she still would never do anything that could possibly put her friendship with Ash at risk.