Although the price retracement has been ongoing for the past four days, momentum is building up at the $0.011 price level for a bullish comeback. So far, the retracement has almost brought the market back to the $0.01 price level. The market is likely to rebound at a slightly higher price level, to the $0.01 price level.
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
As the volatility cooled off, the buyers also lost their grip on the market. This caused the D2T market to slide lower, back toward the $0.01 price level. This could be a sign that bulls lack sufficient strength to sustain the trend by cutting short the retracement. However, as the market gets closer to the $0.01 price level, there is a possibility that bullish sentiment will grow around this price level. The indicators are now pointing to a bullish recovery. The indicator lines of the Moving Average Convergence and Divergence (MACD) are recoiling for an upside retracement as the histogram appears in faded red. This is a sign of bullish activity.
D2T/USD Short-Term Outlook: 1-Hour Chart
From this outlook, the bullish comeback is playing out as anticipated. The $0.01 price level serves as a strong barrier and a turning point for bear market. The buying pressure catches up with the sellers as the price bounces back to the market’s midrange from around this same support level. However, even at the current position of the market, bulls still need to face off with bears at the $0.01158 price level.
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