Just as Dash 2 Trade bears gathered their momentum around the $0.016 price level in order to reject the bullish price, the bulls are also now gathering momentum at the $0.014 price level to reject the bearish price and move the price upward. Looking at the market from the chart, we can see that the bearish momentum is reducing at around the $0.014 price level.
Key Levels
- Resistance: $0.019, $0.020, and $0.025
- Support: $0.010, $0.076, $0.005
Dash 2 Trade: What Indicators are Saying About the Market
The last daily session was dominated by D2T bears after the price faced rejection at the key resistance level of $0.016. And as the D2T bulls gather around the new support level, they preserve the major support, which is $0.0134. And as buyers continue to hold their positions in the market, the price continues to maintain a horizontal level of movement. The Bollinger Bands indicator illustrates the price channel moving sideways. The RSI also ranges sideways, as the line is below the midpoint of the indicator.
D2T/USD Short-Term Outlook: Bulls Getting Ready for Action (1-Hour Chart)
The Bollinger Bands indicator is in favor of a price recovery and bullish sentiment. The upper and lower bands of the indicator are converging against the price action. Although the price is below the moving average, the demand zone is wearing out the selling pressure. The MACD lines are also moving sideways below level zero. Bulls are wearing out the bearish pressure, and then they will soon reattempt the difficult resistance level.
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— Dash 2 Trade (@dash2_trade) February 6, 2023
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