D2T is now on the rise after the last two closing sessions ended with a very significant faceoff between the bulls and the bears. Neither the bulls nor the bears could influence the price for those trading sessions, and the distance between the support level and resistance level grew extremely close in the latter part of the previous daily session. Today’s market, however, opened with a strong movement of the price in a bullish way, reaching the $0.01589 price level, before the bears responded by rejecting the bullish price.
Key Levels
- Resistance: $0.060, $0.065, and $0.070
- Support: $0.015, $0.014, and $0.013
Dash 2 Trade (D2T) Price Analysis: The Indicators’ Point of View
Due to the bullish price recovery, we see the Bollinger Bands indicator converging as the bulls begin to engage the bears in the struggle for market dominance. The support level continues to hold against pressure; therefore, the probability of a bullish price is high. The selling pressure will eventually wear off as the support level continues to hold. For the time being in the present 4-hour trading session, the volume of trade is on the low side, while the market is set for bullish action. It is very likely that in the subsequent sessions, the bulls will overrun the market.
D2T/USD Short-Term Outlook: 1-Hour Chart
The selling pressure has forced the supply level to drop from $0.017 to around $0.0156, but because the bulls are also trying to secure a higher support level around $0.0154, this has forced the market into consolidation. But as the bull market continues to gain traction; the resistance is giving way to the bullish trend. Before today’s trading session runs out, we should see the bull market reclaiming the $0.017 price level.
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