It has been an epic battle between the Dash 2 Trade demand and supply lines. But in the first three days of February, the tug-of-war intensifies, thereby making the price channel more narrow. On the 4th of February, we are seeing a more bullish candle. This is giving us the impression that the market will skyrocket as the volume of trade increases.
Key Levels
- Resistance: $0.019, $0.020, and $0.025
- Support: $0.010, $0.076, $0.005
Dash 2 Trade: The Indicators’ Point of View on the Market
Throughout the day, the price remains above the 20-day moving average, even though the difference between the support level and the resistance level is very slim. The bands of the Bollinger indicator are beginning to expand as bullish activities affect the upper band. The lower band of the indicator is also showing some slight movement. More bulls are needed at this moment to spice things up in the market.
D2T/USD Short-Term Outlook: Buyers Are Having the Upper Hand (1-Hour Chart)
Currently, demand and supply seem to be evenly matched, but due to the performance of the bulls in the market, the price channel portrays an uptrend. However, the contracting bands are a sign of another gridlock. After this brief faceoff, the bulls will gain the upper hand as their target remains fixed at $0.02.
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