The Dash 2 Trade (D2T) bull market hit a brick wall at $0.016 on February 20 and 21. Bearish resistance at the price level turned the market in a bearish direction until the bulls were able to salvage the bullish trend at $0.0142. If the price channel is to remain bullish, the price action must move above the $0.016 price level.
Key Levels
- Resistance: $0.019, $0.020, and $0.025
- Support: $0.010, $0.0076, and $0.005
Dash 2 Trade (D2T) Price Analysis: Bulls Are Back at the $0.016 Price Level
The $0.016 price level is a solid hindrance to the bull market. Initially, the $0.015 price level was a strong support price, and the D2T buyers were forced to shift grounds to $0.0142. From $0.0142, the bull market bounced back. The bulls are back at $0.016 and at this point in the market, we noticed indecision. In the Relative Strength Index (RSI) indicator, the momentum is measured at 59.
Dash 2 Trade Short-Term Outlook: The Bulls Are Catching Up (1-Hour Chart)
The bulls continue to mount pressure on the resistance price level and this will eventually result in a price breakout. After the buying pressure has pushed the price to its current level, the struggle for control of the market intensifies. The market may enter a brief consolidation trend before the uptrend continues.
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