In the D2T/USD market, demand and supply exhibit significant activity, leading to the emergence of upper and lower shadows on the candlesticks that define market actions. Despite the ongoing interplay between demand and supply forces, the market is currently undergoing a modest upward shift, progressing steadily towards the $0.005 price level.
Key Levels
- Resistance: $0.010, $0.011, and $0.012.
- Support: $0.004, $0.003, and $0.002.
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
As the D2T/USD market undergoes a gradual upward shift towards $0.005, a cluster of sell orders within this price zone has come into effect, resulting in an extended upper shadow during the last 4-hour trading session. The $0.0045 price level is establishing itself as a crucial support level pivotal to maintaining bullish momentum. Despite the volatility in the market contributing to rapid price swings, the overall market direction remains upward.
Bullish traders are poised to intervene in the current 4-hour session, stepping in at the $0.0045 price level to fortify a robust support foundation and potentially counteract the prevailing bearish sentiment.
D2T/USD Short-Term Outlook: 1-Hour Chart
A Concerns arise in the 1-hour chart analysis of the market as a robust or elevated histogram is observed in the trade volume indicator, indicating a notable presence of bearish sentiment. Despite the prevailing bearish momentum, the Bollinger Bands indicator, which has consistently depicted a modestly upward-trending price channel, shows resilience in the face of this bearish movement. Given the market’s propensity for swift fluctuations between demand and supply, the current bearish trend may not necessarily overpower the prevailing bullish sentiment.
When we reviewed our monthly summary for November, four bullish and four bearish points stood out to us at D2T. Positive cryptocurrency exchange-traded fund momentum continued for the bulls as BlackRock submitted its Ethereum spot ETF proposal. Additionally, there have been consistent upward price movement, strong indications of growing institutional use, and significant crypto-events. On the bear side, we witnessed a well-known figure, CZ, resign from Binance and another “Crypto persona” face numerous legal disputes. In addition, further hacking and enforcement measures are helping the bears in November.
📆 Crypto Recap for November 2023 📆
Looking at our monthly recap for November what stuck out for us at D2T were four bullish points and four bearish points. For the bull side, we saw further positive Crypto #ETFcontagion as #BlackRock filed its Ethereum spot #ETF application.… pic.twitter.com/VeQYbDBoBM
— Dash 2 Trade (@dash2_trade) December 1, 2023
Dash 2 Trade (D2T) is that coin. Buy D2T now!
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