The D2T market saw a massive price breakout to the upside towards the end of the previous daily session. The bullish run took the market above the $0.03 price mark. The price came to the $0.031 resistance level, and it was here that the bears took their turn to dominate the market. The bearish cycle was so strong that the bulls lost grip on the $0.029 support price level. Now at $0.027, the bulls plan to stage a comeback. It is now clear that sellers seem strong around $0.031, which is the next obstacle for the bulls to break.
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
According to the Bollinger Bands indicator, the sharp price decline cannot yet be regarded as a trend because the bearish move is well contained within the bands or the price channel. The indicator has now reflected the high volatility in the market, and this downturn in the market may not break below the current new support level. The Relative Strength Index illustrates the strength of the bear market, measuring continuously at level 41. However, the fact that the RSI line ranges at 41 means the bear market is losing momentum and the bulls are getting ready to reclaim the market.
D2T/USD Short-Term Outlook: (1-Hour Chart)
From the point of view of the 1-hour chart on the market, we noticed that the decline is beginning to turn the price channel to the downside before a solid resistance was secured at the $0.027 price level. The Bollinger Bands indicator illustrates this with a wide divergence of the standard deviation curves, which means high volatility. The Moving Average Convergence and Divergence indicator portrays a recovery in the bull market. The histograms indicate a bullish recovery, and the fast MACD line is moving towards the slower MACD line in preparation for a bullish crossover.
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