Dash 2 Trade buyers have set their target on the $0.035 price level. Since February 28, when the market broke out of indecision to favor the bulls, the bull market has grown stronger and stronger. They have pushed the supply zone even further into the upper price levels. Currently, the resistance level has shifted to $0.035. And it seems the bears are gaining traction at this key resistance level. The bulls are also not giving up easily as they seek support near the key resistance level.
Key Levels
- Resistance: $0.035, $0.040, and $0.045
- Support: $0.014, $0.0013, and $0.012
Dash 2 Trade (D2T) Price Analysis: The Indicators’ Point of View – Buyers Are Aggressive
Both sides in this market are gaining momentum, but the buyers are having the upper hand as the pressure rests more on the supply line than the demand line. To confirm this, the Bollinger Bands indicator diverges greatly, but the upper band has more movement than the lower band. On the other hand, the lower band is recoiling in response to the dominant force in the market, which is the bull market. The Relative Strength Index (RSI) reflects the aggression of the buyers in the market, as the RSI line shows recovery from overbought territory.
D2T/USD Short-Term Outlook: (1-Hour Chart)
This market timeframe x-rays the action of the demand zone furthermore as they secure a support price level at around the $0.034 price level. This is near the key resistance, and that means the bulls are at it again. They want to break the $0.035 price level, pushing the bears out and regaining market dominance. But, for now, the bears are not giving up that easily, and that is why in the Relative Strength Index, the intense struggle between demand and supply was well illustrated as the curve continued to measure around the 60 levels.
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