The D2T downtrend was stopped at 0.0116. It was at first a period of invasion around the price level and then a brief price consolidation, but by May 9, the market broke away from the deadlock. The bullish price then gained more traction, and a number of supply levels were claimed in the bullish rush. But when the market came within reach of the $0.016 price level, sellers formed resistance at the $0.0155 price level. With this came more volatility, but bulls now have a strong base slightly below the $0.014 price level, which should afford them the chance to claim their target.
Key Levels
- Resistance: $0.035, $0.040, and $0.045
- Support: $0.015, $0.014, and $0.013
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
The Bollinger Bands indicator exploded due to the spike in the market’s volatility as it reached the $0.014 price level. The market finally claimed the price level, but it could not stand pressure above the price level; therefore, the buyers were forced to find refuge at $0.0137, which is slightly below the $0.014 price level. This resistance level is about to become the next support level as the liquidity in the bull market increases. D2T sellers are gathered around the $0.015 price level, and that is why the bullish histograms of the Moving Average Convergence and Divergence (MACD) indicator experience a bit of decline.
D2T/USD Short-Term Outlook: 1-Hour Chart
The repeated testing of the $0.015 price level might eventually result in the final breaking of the resistance. This will set the market sailing for the conquest of the next price level. From the 1-hour outlook on the market, we can see that the $0.014 price target has already been taken by the bulls. Buyers have even taken another higher support level at $0.0154. Dash 2 Trade has the prospect for more bullish action in today’s market.
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