Dash 2 Trade bulls have well defended the market above the $0.030 price level. The demand line has cut the bear market short and settled the market in a price consolidation trend. On March 11, most of the 4-hour sessions of that day were mostly without a clear direction for the market. But towards the end of that day’s session, the market became a bit exciting; unfortunately for the bears, the demand side was responsive to this move.
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—Momentum Gathering at $0.033
The bear market has found a new support level above the $0.030 price level. From this price level, we see an impressive performance from the bull market in the first 4-hour session of yesterday’s market. However, as the session progresses, the price settles into equilibrium. The Bollinger Bands indicator signifies an imminent bullish price breakout with its two standard deviation curves converging on the price action as the market is maintained above the 20-day moving average.
D2T/USD Short-Term Outlook: (1-Hour Chart)
Looking at the market from the perspective of the Bollinger Bands indicator and the Relative Strength Index (RSI) of this timeframe, the market is portrayed as being at its midpoint due to the intensifying tug-of-war. The bulls prepare to take the market, but first, they must battle for it at the threshold of the demand zone. But as for the stochastic RSI of this time frame, it is beginning to carry a bullish sentiment in the market. The bull market is set to reach the $0.040 price mark. Reaching this level will turn the market in the upside direction.
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