The Dash 2 Trade market has finally claimed the $0.030 price level, and it looks like the bulls are securing a strong support level above this price level. However, resistance is strong at the $0.032 price level. This is supposed to put more pressure on the new support level, which is at $0.0308. However, the market should continue to trend to the upside, as there is a growing bullish sentiment in the market.
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
A source of concern in the market, from the perspective of the Bollinger Bands indicator, is that the bands are diverging, which indicates volatility. But the $0.032 resistance level is under bullish pressure, and the upper standard deviation curve is responding to this as it appears as though the bull market is already breaking the resistance. The supply line is giving way to the bull market; sellers will be forced to find new supply lines. This is good for the bulls because they will be able to strengthen their position at the $0.0308 price level.
D2T/USD Short-Term Outlook: (1-Hour Chart)
The bull market is progressing. It has just broken the resistance that has pegged the price for a while. However, in the Bollinger Bands indicator, the upper band is recoiling; this may be due to the prolonged tug-of-war of the market at the resistance level. If the bull market can maintain the market in an upside direction, the upper band will be corrected and join along with the trend of the market.
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