The $0.01 price level is bulls’ last line of defense. It is not likely that the price of D2T will fall beyond this level, and that is why bullish sentiment at this level was able to trap bears in a sideways-ranging market. As tension builds near the $0.01 price level, it is a sign of an imminent bullish reversal trend.
Key Levels
- Resistance: $0.020, $0.019, and $0.018
- Support: $0.010, $0.009, and $0.008
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
The bands of the Bollinger indicator contract at this level as tension grows around the $0.01 price level. As expected, in the previous daily session, we saw a very strong bullish move, which has the potential to turn the D2T trend in a bullish direction. However, in the previous session, as the price pumped, the volume of trade did not commensurate with it, and that was why the upper band of the Bollinger indicator did not respond significantly to the bullish move as the volatility remained within the limit that it could contain. However, the support level was secured above the 20-moving average. This shows that the price is indeed going up; if bulls keep on pressurizing the resistance, it will soon give way.
D2T/USD Short-Term Outlook: 1-Hour Chart
From a 1-hour timeframe, we can observe that the bull market now struggles around the $0.012 price level. The bullish trend tested above the resistance level a number of times, increasing the chance of breaking this barrier. In addition to the pressure on the resistance level, the support level above the 2-day moving average increases the likelihood of breaking the $0.012 price barrier.
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