D2T bears took the $0.035 support level as the basis for price recovery as the market initially suffered a strong rejection at around the $0.054 resistance level. But unfortunately, the bull market continued to fail to go beyond the $0.045 price level. On March 9, towards the end of the day’s session, the bulls lost ground again to the bears and the market fell below the $0.035 price level, but at around the $0.030 price level, the traders could no longer sell. That became the new support level. The $0.035 price level, which was formally the support level, has now become the resistance level.
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—Faceoff at $0.035
D2T market is going flat around the resistance level due to the intense struggle for the price. Looking at the market from the perspective of the Relative Strength Index (RSI), we see the two lines: both the fast line and the slow line merging as the indecision at around this price level continues. The two lines both continue to measure at level 44.6. The Moving Average Convergence and Divergence indicator shows that the bull market is bouncing back, but the market is still below level zero. The bulls are expected to capture the $0.035 resistance if the price must rally.
D2T/USD Short-Term Outlook: (1-Hour Chart)
On the 4-hour chart perspective, the market continues to move slightly below the middle level of the indicator, but on the 1-hour chart outlook, we see the market moving at the equilibrium price level. The Bollinger Bands show that the deviation curves are converging, illustrating the increasing closeness of the support level and the resistance level. The implication of this is that we should be expecting the market to soon move in a clear direction, and it should be to the upside.
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