As the selling pressure in the Dash 2 Trade market continues to increase around the $0.03 price level, the demand line has had to step back a bit, seeking refuge at $0.0258. Then the bull market would gather its momentum from around this support price level. The bulls made some very significant moves, but they seem to be currently struggling at around $0.028. The supply line has shifted to $0.028.
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
Even though both the support and resistance levels have shifted slightly, according to the Bollinger Bands indicator, the price is still consolidating. The market is still moving horizontally. Also, the two standard deviation curves are converging, illustrating the growing tension between the two market forces. More D2T buyers are needed in the bull market so that the price can come up above the 20-day moving average. This will cause the market to begin a clear movement to the upside.
D2T/USD Short-Term Outlook: (1-Hour Chart)
The market, from a 1-hour point of view, was already trending in a bullish way until it hit the $0.0294 price level. From that point, the price retraced to a lower level. The bulls are trying to keep the price above the 20-day moving average, and it is already looking like we are going to have a strong support level at this point. The Moving Average Convergence and Divergence line changes to a movement on a horizontal level to support the sentiment that new price support could be forming around the current price level.
Three weeks remain until the platform’s full launch.
https://twitter.com/dash2_trade/status/1638179683572531203
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