The aggressive bulls have pushed the market into new price zones as the bearish resistance at the $0.015 level appears weak and unable to bear much pressure. The Dash 2 Trade market, on the chart, continues to have higher lows, an indication of a bullish market. The $0.0145 support price level is the base point from which the market launched into the $0.015 and $0.016 price zones. The bears’ position has come under pressure at the $0.016 price level. However, the bears seem very strong at the $0.016 resistance level, as they were able to keep rejecting the bullish price with very significant moves. The bulls are still very much in the game as they have secured another support level at around $0.0151.
Key Levels
- Resistance: $0.019, $0.020, and $0.025
- Support: $0.010, $0.0076, and $0.005
Dash 2 Trade (D2T) Price Analysis: The Market in New Price Zones
The $0.016 price level seems like a solid hindrance for the bull market, just as the $0.015 price level appears to also be a strong hindrance for the bear market. According to the Bollinger Bands indicator, the market is still trending to the upside. However, due to the latest activities of the sellers around the key resistance level, the upper band is recoiling. This indicates that the bears are trying to catch up with the bull. At this level in the market, we see strength on both sides of the market. If the deadlock in this new price zone continues, the market may enter a period of price consolidation.
D2T/USD Short-Term Outlook: The Bulls Are Catching Up (1-Hour Chart)
From a 1-hour point of view, the price channel is now ranging sideways as both market forces prepare to intensify the struggle within these new price zones. For now, the sellers are having a bit of an upper hand over the bulls because they are taking strength from the key resistance level, which many traders may have targeted as the take-profit price level. Despite this, we see the bull market bouncing back from its strong support price level.
The Dash 2 Trade development team recently made several updates to the platforms that will improve user experience and ensure you get the most out of your trading.
Weekly #D2T development update – 20th of February📈
A thread 🧵
✅Last week the dev team focused on polishing existing features to improve the user experience. It also added an APM to track the platform performance and make sure it's up and running. pic.twitter.com/BH9tCyHnMJ
— Dash 2 Trade (@dash2_trade) February 20, 2023
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