Recent developments in the Dash 2 Trade market: bullish momentum lifts price near $0.01100 before a bearish phase emerges On August 24th, a notable consolidation occurred around the $0.00900 mark as bullish forces sought to establish a robust support level. This sideways movement was maintained throughout the day to sustain the ongoing price surge. Yet, the pivotal demand level eventually slipped from the buyers’ grasp, resulting in a decline to the $0.00825 price level.
Key Levels
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.005, $0.004, and $0.003.
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
The recent bear market extended Dash 2 Trade‘s price retracement considerably from its peak of $0.0107. Presently, the price sits below the 20-day moving average, indicating a shift into the bearish zone.
Nonetheless, the Bollinger Bands could potentially overstate the market’s condition. While the Relative Strength Index positions the price around the indicator’s midpoint, suggesting a balanced stance. Similarly, within the Moving Average Convergence and Divergence (MACD) indicator, despite its downward trajectory, the market remains positioned above the zero level.
D2T/USD Short-Term Outlook: 1-Hour Chart
Examining the 1-hour chart, a modest bullish divergence becomes apparent. Notably, a disparity emerges between the bearish candlestick and the volume of trade indicator’s histogram. This discrepancy might indicate waning bearish momentum, potentially paving the way for a bullish resurgence. The upcoming focus for the market could target the pivotal $0.01000 price level.
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