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Dash 2 Trade (D2T) Market Approaches a Major Supply Level

Johnathon Fox
04/08/2023 | UPDATED ON: 04/08/2023

At the $0.032 price level, more traders decided to enter the Dash 2 Trade bull market, and the price was propelled to the threshold of the $0.035 price level. From this psychological level, some investors began to take profits, but the market is still bullishly biased and the uptrend is likely to continue. But before the uptrend continues, the market needs to come above the $0.035 price level. This is a possibility as the bull market has tested above the $0.040 price level in one of the previous sessions.

 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

The recent excitement in the bull market and the bear market has triggered volatility in the market. But as the tension cools down, it seems like the market is settling within an ascending price channel. Due to the recent bullish price performance, the Bollinger Bands converge slightly. However, the indicator has been sensitive to the slight resistance that issues from major supply levels, as we can see from the recent market performance on the 4-hour chart. But it is quite clear that the bulls dominate this market for now.

Dash 2 Trade (D2T) Market Approaches a Major Supply Level

 D2T/USD Short-Term Outlook: (1-Hour Chart)

 The bulls are gathering momentum at the $0.0342 price level, which is in proximity to the $0.035 price level. The $0.035 level is the key resistance level. This means that pressure is on the key resistance level, and it might soon give way to the bull market. However, from the 1-hour chart outlook, the Bollinger Bands indicator noted the growing volatility. But since the bulls were able to form support near the key resistance, this increases the probability of capturing the $0.035 before today’s daily trading session runs out.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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