The bear market appears to have hit a brick wall at $0.024 as the bearish price continues to bounce off this level. It seems like traders are now willing to buy Dash 2 Trade again at this price level, and the probability that the price will rally is on the rise as the market tests the $0.027 price level. The buyers have got to capture this $0.027 price level to prevent the sellers from claiming another price level, which could force the demand line to shift back.
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
There is a possibility that selling pressure may want to advance the bear market even lower than the $0.027 price level. More traders, however, are willing to come into the market at this level, and that is the reason for the current activities in the bull market. The bulls have to reclaim the key resistance level. From the Bollinger Bands and the Relative Strength Index (RSI), we can see signs of bullish price recovery from the bearish territory.
D2T/USD Short-Term Outlook: (1-Hour Chart)
Looking at the market from the perspective of the Bollinger Bands indicator, the price channel was illustrated as trending downwards. But with the current activities in the bull market, we see a convergence of the two standard deviation curves. The bulls are catching up with the bears. This signals an imminent trend reversal. The bulls can capture the $0.027 price level within today’s trading session.
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