In the previous daily session, Dash 2 Trade bulls made some significant moves, reclaiming the $0.012 price level and also testing the $0.013 price level. However, bears gathered around the $0.013 price level, and they cut short the bullish price in the early hours of the previous daily session. The bulls are quick to salvage the market by gathering momentum around the $0.012 price level. They are forming a support level in proximity to the resistance level, thereby increasing pressure on the supply level.
Key Levels
- Resistance: $0.019, $0.020, and $0.025
- Support: $0.010, $0.076, $0.005
Dash 2 Trade (D2T) Price Analysis: The Bulls are Ready for Action
The activities of bears in the market have brought the price to equilibrium. Initially, the price channel was going to change movement to the upside. But because the bullish price was cut short at $0.0129, the upper band of the Bollinger Bands indicator could not make a significant move to the upside. However, due to the recent bullish move in the market, the indicator is showing signs of an upside movement. Currently, the price is between the two market forces and at the moment, the market is experiencing indecision.
D2T/USD Short-Term Outlook: Price Indecision (1-Hour Chart)
Looking at the market from a 1-hour point of view, we will discover that the supply line has shifted to around the $0.012 price level and as a result of this, the progress of the bull market appears to be pegged at around $0.0118. For the time being, the bull market is still in its price recovery phase. However, they need to keep a firm grip on their position in the market to prevent further declines of the price. The volume of trade is very low at this moment, but as soon as the volume of trade increases, we should see the market moving in a bullish way.
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