In today’s market, both buyers and sellers contend for the dominance of the market, but the intense struggle between demand and supply was not able to affect the price in either direction. For the most part of today’s trading session, the price of D2T has ranged continuously around $0.027. This new demand level is higher than the previous one. This is a sign that the bulls are very determined to reclaim the $0.03 price 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
The D2T market gets tensed up as today’s market manages to move along within the narrow price channels of $0.027 and $0.03. The bears are not willing to relinquish the $0.03 price level, which was formally the bullish support level. The Bollinger Bands indicator illustrates the price channel shifting slightly to a lower level as the market continues to range sideways. The Relative Strength Index and the Moving Average Convergence and Divergence indicators also portray the market as flat. However, the bull market is building momentum around the new demand line.
D2T/USD Short-Term Outlook: (1-Hour Chart)
The price channel on this outlook appears to be getting narrower as the market progresses. This is a reflection of the increase in the proximity of the supply level and the resistance level. This will reach a climax that will eventually result in a bullish price breakout. It is going to be a bullish price breakout because the resistance level is currently under bullish pressure.
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