The Dash 2 Trade market has been ranging sideways for quite a while. The market has maintained movement within the $0.03 and $0.04 price levels since March 9. The supply line increased in momentum, forcing the bulls to lose grip of the support. The bullish price was quickly conserved at $0.024, and from here, the market is laying hold on the $0.03 price level to reclaim it because it has now become the resistance level.
- Resistance: $0.060, $0.065, and $0.070
- Support: $0.020, $0.0025, and $0.030
Dash 2 Trade (D2T) Price Analysis: The Indicators’ Point of View
From the perspective of the Bollinger Bands indicator on the market, due to the recent bearish run from which the market is recovering, the price is slightly below the 20-day moving average. The RSI line of the Relative Strength Index is measuring at level 45, which is slightly below the midpoint of the indicator. The general view of the market from the perspective of the indicators is that the bulls are coming back into the game.
D2T/USD Short-Term Outlook: (1-Hour Chart)
From the smaller timeframe outlook on the market, we noticed that bullish activities have taken the price into the buy zone. However, according to the Relative Strength Index (RSI), the RSI line now ranges continuously at 55.9. This is because as the market approaches the $0.03 price level, we notice the continuous appearance of doji at that level. This is a source of concern as the market enters indecision at the price level. More buyers are needed to push the market and reclaim the $0.03 price level which was formally the bullish support.
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