Dash 2 Trade‘s bull market resumes the uptrend after being pegged for a while between $0.034 and $0.030. The resistance level had shifted from $0.035 to $0.034 as the supply zone gained momentum. Some traders are targeting these two price zones for their take-profit levels, but a larger percentage of the traders in the market still maintain bullish sentiment. And that is why today’s bullish trading session has increased pressure on the position of the bears in the market. The bulls have shifted the demand line closer to the supply line, which has narrowed the price channel and increased pressure on the 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—Resistance Level Under Pressure
According to the Bollinger Bands indicator, the market is performing well above the 20-day moving average; however, the indicator portrays the market settling down for a price consolidation trend. While the moving average curve and the lower standard deviation curve move upward, the upper band moves sideways. If the market struggle continues within this price zone, the moving average will catch up with the price action, and the consolidation trend will be confirmed. However, because of the determination and aggression of the bull market, the resistance level will be broken soon. The bulls need to capture the $0.034 and $0.035 to set the market for a continuation of the bullish trend.
D2T/USD Short-Term Outlook: (1-Hour Chart) – Resistance Level Under pressure
From a 1-chart outlook on the market, we notice a series of four Doji candlesticks around the $0.033 price level. Traders were undecided for the four consecutive hourly trading sessions. These sessions were later followed by a slight movement of the market in a bullish direction. The bears are losing their grip on the market. The bulls are ready for more action, and the target is at $0.09.
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