The D2T/USD market recently experienced a struggle around the $0.0027 price level. However, increasing headwinds caused the market to decline to lower price levels. Currently, the market appears to have found solid support at the $0.0023 level. Despite this, bearish trends remain evident from the last trading session. There was a brief attempt by the bulls to rally the price, pushing it up to $0.00264. However, this upward movement was not sustainable, and the price has since fallen back to $0.0024.
Key Levels to Watch:
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.0020, $0.0018, and $0.0017
Dash 2 Trade Price Analysis: The Indicators’ Point of View
The indicators are depicting a bearish market. The Bollinger Bands show that price actions are below the 20-day moving average, indicating a downward trend as bulls have lost control of several price levels. However, the price action is rallying upward, poised to catch up with the 20-day moving average. Once this happens, the market’s tempo and direction are likely to change. Similarly, the Relative Strength Index (RSI) suggests a recovering market, with the RSI line pointing upward and selling pressure declining, as the RSI now measures 44.
D2T/USD Short-Term Outlook: 1-Hour Chart
The smaller timeframe reveals a gradual bullish advance through bearish resistance, gaining minimal ground as the price attempts to retrace to the $0.0026 level. However, indecision is slowing the recovery. A support level at the current $0.0024 price might boost D2T/USD trader confidence and help sustain the market’s upward momentum.
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