The price of the market continues to move within the narrow price channels of 0.011 and 0.012. However, D2T bulls are gathering momentum, and they are increasing pressure on the resistance price level. There is a major concern in the market as we can notice a decline in the volume of trade in the current 4-hour trading session. This appears to be slowing down the bull market as it contributes to indecision. Nevertheless, the market is set to move in the upside direction.
- Resistance: $0.019, $0.020, and $0.025
- Support: $0.010, $0.076, $0.005
Dash 2 Trade (D2T) Price Analysis: Bulls Are Ready to Break the Resistance
The Relative Strength Index (RSI) portrays the price of the market at the midpoint of the indicator. This indicates that the market is still in a gridlock situation as it is stuck within this narrow price channel. The supply line is still strong enough to resist some of the pressure from the demand line. With an increase in the volume of trade, it is very likely that D2T bulls will conquer the $0.012 price level, thereby breaking the deadlock.
D2T/USD Short-Term Outlook: Bullish Price Recovery in Progress (1-Hour Chart)
From the 1-hour trading point of view, we can see a very significant bullish move. The bull market is now capturing the $0.012 price level. Bears are being forced to shift ground as the number of traders willing to buy the market increases. Once the resistance is broken, the bulls will need to secure a strong support price level above $0.012. This will ensure the progress of the bull market.
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