The D2T market is very likely to take a rebound at the $0.031 price level because the appearance of the latest candlestick pattern suggests that the bear market may be weakening at around the key support level. The tug-of-war around the support level is intensifying, and the bull market may soon bounce from this level.
Key Levels
- 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
Taking a look at the last three trading sessions, we noticed the testing of the $0.033 price level. The selling pressure forced the price back down, but the price could not go beyond the $0.030 level. The upper shadows of the candles have since become smaller as the struggle between buyers and sellers has reached a deadlock. More bulls are needed to gather around this price level to trigger the bull market. The indicators portray the market as moving sideways in the sell zone, precisely ranging continuously at around level 40, especially according to the Relative Strength Index (RSI).
D2T/USD Short-Term Outlook: (1-Hour Chart)
The Moving Average Convergence and Divergence (MACD) begin some bullish activities in the market. We now have bullish histograms, and the MACD lines are trying to cross out from below level zero. However, due to bearish resistance, the progressive height of the histograms does not carry much of a noticeable difference, but the market now seems to be going in favour of the bulls, from the perspective of the MACD indicator. Another sign of an imminent price breakout is seen in the Bollinger Bands indicator. The bands are contracting against the price action as the proximity between the support level and resistance level increases.
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