The D2T/USD market is still acting as a barrier between buyers and sellers. The price moves within the horizontal price channel. The price action has been oscillating around the $0.074 price level since July 1. This is what follows the bullish advance that peaked at $0.0079. The bulls were unable to maintain the move at their new height and had to return to their starting point to reorganize. And, as expected, the bull market is gathering traction because there are more swing highs than swing lows.
Key Levels
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.007, $0.006, and $0.005.
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
Trading interest has skyrocketed, particularly in the D2TUSD bull market. This bullish record, though, is marginally better than that of the bears. We believe the bulls have the upper hand in the market because the price is slightly above the 20-day moving average.
However, the D2TUSD bulls have still fallen short of having a substantial impact on the upper bands of the Bollinger indicator. The bull market is gaining strength, but more is needed. More bullish force is needed. In the Relative Strength Index (RSI), the bullish momentum is weak as it just slightly exceeds level 50.
D2T/USD Short-Term Outlook: 1-Hour Chart
With the repeated appearance of long-legged doji candlesticks, we discover that investors’ interest in this market is on the high side, but D2TUSD traders are currently undecided about which position to take. However, it is looking like a bullish price breakout will occur as the market continues to move slightly above the 20-day moving average.
The previous daily session had a mini-bullish price breakout that was not followed through by the bulls. The D2TUSD bull market needs to recover and retest the $0.007593 resistance level from a near-support level. This time, the market is extremely likely to burst over the resistance.
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