Over an extended period, the D2T/USD market has experienced a notable bull market, resilient even in the face of a formidable bearish trend. While bears have been active participants, the prevailing dominance of bulls has significantly propelled prices on an upward trajectory, breaching several key resistance levels. Throughout each session since early December, the market has witnessed swift and substantial price swings between demand and supply, with bulls consistently asserting their dominance.
However, the convergence of numerous bearish traders around the $0.008 price level has led to a capitulation of the bulls under bearish pressure, resulting in a decline in prices around $0.008.
- Resistance: $0.010, $0.011, and $0.012.
- Support: $0.004, $0.003, and $0.002.
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
As bullish momentum gave way to bearish pressure, a substantial D2T/USD bear market unfolded, resulting in a rapid and significant decline in prices. Despite this downturn, bulls re-entered the market at the $0.006 price level. However, a prevailing bearish sentiment persists, evident in the noteworthy price swings above $0.006. The bull market encountered resistance, failing to breach the bullish barrier.
The formation of a spinning top candle in the preceding 4-hour sessions suggests a potential shift in market dynamics, with indications that bulls may be regaining control as bearish aggression wanes. This shift in sentiment may be attributed to the emergence of a significant bullish candle in the current 4-hour session.
D2T/USD Short-Term Outlook: 1-Hour Chart
As the market embarked on its bullish trajectory, the price rebounded to the midrange, indicating a return to equilibrium. Concurrently, trade volume has diminished, signaling a potential consolidation around $0.00625. The Bollinger Bands indicator is showing signs of convergence, indicative of a volatility squeeze that typically precedes a substantial bullish movement. The presence of a spinning top candle at the base of the preceding bearish trend further suggests a potential shift in market sentiment towards a bullish direction in the near future.
The Dash 2 Trade development team is now in the final stages of developing the subscription smart contract and the autotrader. As we get closer to a functional and commercially viable solution, we are getting closer to the official launch of Dash 2 Trade.
Dear D2T community,
The Autotrader and subscription smart contract are all in their final development phase. We are nearing the official launch of Dash 2 Trade as we close in on a working and marketable product.
The large updates will affect many users as free access to premium…
— Dash 2 Trade (@dash2_trade) December 15, 2023
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