In the Dash 2 Trade market, traders resumed buying at the $0.0005 price level, initiating an upward momentum that strengthened in the new year. On January 4, significant bullish activity was observed, prompting bearish traders to converge around the $0.0006 price mark. Nonetheless, this market dynamic failed to hinder the continued upward progression, leading the price to reach the $0.0055 threshold.
Key Levels
- 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
Presently, the Bollinger Bands indicate an ascending price channel. Additionally, the price action remains above the 20-day moving average, reinforcing the prevailing bullish sentiment against bearish pressures. However, given the descending peaks subsequent to the $0.0064 pinnacle, there’s potential for Dash 2 Trade market consolidation near the $0.0055 price level. Nevertheless, the bullish momentum persists, supported by the Relative Strength Index hovering around the 60 mark, underscoring the market’s bullish stance.
D2T/USD Short-Term Outlook: 1-Hour Chart
Initially, the market’s formation of lower highs raised concerns about a potential decline in bullish momentum. Nevertheless, the price subsequently rallied notably, approaching the key resistance at $0.0057. This robust rally appears promising for emerging bullish traders. Should the price surpass the $0.0057 level, it could exert downward pressure on bearish forces, potentially paving the way for a move towards the $0.006 mark.
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— Dash 2 Trade (@dash2_trade) January 6, 2024
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