The Dash 2 Trade bull market is bouncing back from the $0.024 price level, which is a very strong support level. The target for the bulls is to reclaim the $0.03 price level, which was once the support level before the bulls lost ground to the bears due to prolonged selling pressure. Now the $0.03 level has been claimed by the bears as one of the major price levels in the supply zone. The bears are currently forming resistance at $0.028, but the resistance will be short-lived as the bulls are back in the market to reclaim the $0.03 price level.
Key Levels
- Resistance: $0.060, $0.065, and $0.070
- Support: $0.020, $0.0025, and $0.030
Dash 2 Trade (D2T) Price Analysis: The Indicators’ Point of View
As illustrated by the Bollinger Bands indicator, we can see a price breakout from the narrow price channel of the $0.0256 and $0.024 price levels. The indicator reflects a slight increase in the market’s volatility as the bands are moving apart from each other. However, the price resistance at $0.028 is slowing down the progress of the bull market. The market is pegged at the current price as neither of the two market forces can push the price. In the Relative Strength Index, the strength of the bullish momentum lingers around level 60.
D2T/USD Short-Term Outlook: (1-Hour Chart)
From the 1-hour chart outlook, the Bollinger Bands indicator portrays the uptrend better. The dominance of the bulls over the market is clearer here than on the 4-hour chart, as the two standard deviation curves and the moving average are now moving upward. That means that the bears are losing their grip on the price and giving way to the bullish run. After the breaking of this resistance, the next major level is the $0.03 resistance level.
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