As Dash 2 Trade buyers gained an increasing advantage over sellers, the price pumped and moved into the $0.012 and $0.013 price channels. The bull market now faces the resistance of the $0.013 level. They are doing well at wearing out the pressure from the price line. There is also a concern about establishing a support level near the supply line. The demand zone needs this to ensure the progress of the bull market.
Key Levels
- Resistance: $0.019, $0.020, and $0.025
- Support: $0.010, $0.076, $0.005
Dash 2 Trade (D2T) Price Analysis: New Price Level Within Reach
The new development in the market was portrayed by the Bollinger Bands indicator with expanding bands. This point to the fact that even though the buyers are taking the market, the volatility is increasing, and the bears are also becoming more formidable. The activity of the bears is reflected in the Moving Average Convergence and Divergence indicator (MACD). The indicator is bullish on the market, with the two curves and the histograms performing in the positive section. However, the last histogram reflects bearish activities in the market.
D2T/USD Short-Term Outlook: Bullish Price Recovery in Progress (1-Hour Chart)
Looking at the market from a 1-hour point of view, we discovered that the struggle intensifies at around $0.01298. That is at the threshold of the $0.013 price level. This means that bulls are ready to enter the $0.013 and $0.014 price level zones. However, the sellers are also formidable. The pressure on the price of D2T is pumping on both sides, which is why the Bollinger bands are expanding. But as long as the price action remains above the 20-day moving average, the price channel will continue to move to the upside.
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— Dash 2 Trade (@dash2_trade) February 16, 2023
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