The bull market faced rejection at the $0.0029 price mark, with the Dash 2 Trade bullish momentum now regrouping around the $0.00266 level. The rally is steadily progressing as the price action moves towards $0.0029. Currently, the bulls appear to have secured the $0.0027 level, encountering minimal bearish resistance. Based on the historical performance of the market at this price low, it is likely that the bullish momentum will continue towards the $0.0029 price level.
Key Levels to Watch:
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.0020, $0.0018, and $0.0017
Dash 2 Trade (D2T/USD) Price Analysis: The Indicators’ Point of View
The Bollinger Bands indicator shows a horizontally ranging (or consolidating) price level, indicating a general trend of price consolidation between $0.00266 and $0.00288. Currently, the market dynamics remain within a consolidating and rallying trend. The bullish recovery still has milestones to achieve. At present, the price is below the 20-day moving average, which is around $0.00276. Bulls are currently facing bearish resistance at the $0.00272 level, which is below the $0.00276 mark. The outlook for the bull market at this point is not particularly strong.
D2T/USD Short-Term Outlook: 1-Hour Chart
With the price action now at the resistance level, the last three 1-hour trading sessions have been marked by consecutive four-price dojis. This implies traders are undecided at this level, and the recurring pattern over these sessions further emphasizes the indecision. It suggests bulls are attempting to push the price higher, but are being met with equal force from sellers, resulting in the price closing near its opening point. At this critical juncture, traders should watch for a significant upside if the price action breaks above the key resistance level, as this would trigger increased bullish interest. However, in the event of a reversal, it may not be very strong and would likely indicate the continuation of the consolidation trend.
Buy D2T/USD!
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