The Dash 2 Trade bull market took off from the $0.027 price level; it smashed through the key resistance level and reclaimed it. The bulls are back in the game as even the bullish market tested the $0.035 price level. The bulls now seek to establish their new demand line slightly above $0.030. More bulls, however, are still needed in this market as it needs to rise above the $0.033 price level to end the price consolidation trend.
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
The market, from the point of view of the Relative Strength Index (RSI), has crossed slightly above the level of market equilibrium. At the current position of the market, bulls need to deal with the resistance at $0.031, as sellers seem unwilling to shift ground from this area. After some periods of bullish pressure on the resistance level at the $0.03 price level in yesterday’s daily trading session, the bulls were able to break the resistance; however, bearish resistance only shifted slightly to around $0.032. That means the supply line still has strength, and more bulls are needed to fully turn the market to the upside.
D2T/USD Short-Term Outlook: (1-Hour Chart)
From the 1 hour outlook on the market, we can see that after the price was rejected at the key resistance level, we noticed a strong movement of the market in a bearish way. However, as the market approached the key support level, the momentum of the market reduced. This is because the price will soon break through the $0.032 price level, thereby ending the consolidation trend and turning the market to the upside.
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