The $0.035 price level acted as the D2T psychological level in the last daily trading session. The market turned to the downside after reaching this level. However, because the bulls are still strong, a support level was formed at $0.03382 to keep the price from falling too far. Unfortunately, the support level has now become the new resistance level. Now, as the market recovers, the bulls will have to deal with the $0.03382 price level first before going ahead to face the $0.035 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
In the latest 4-hour session, the selling pressure grew stronger, and the bears tested the low of $0.0289. Currently, the price seems pegged at $0.032, which is slightly lower than the 20-day moving average. The market has fallen slightly into the bearish zone. The Relative Strength Index measures a market momentum of 47, and the Moving Average Convergence and Divergence (MACD) has just had a bearish crossover above the zero level. The bull market needs more traders to conserve the bullish price.
D2T/USD Short-Term Outlook: (1-Hour Chart)
According to the Bollinger Bands indicator, the D2T market has entered oversold territory, and it is expected that the market will rally. However, we noticed that the recovering bullish price seemed pegged at $0.0316. This may be due to the current low volume of trade. The market is set in a bullish direction, and as soon as the volume of trade increases, the bullish price recovery resumes.
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