D2T’s price has been having some strong oscillatory movement due to the market’s volatility. This market action has widened the price channel, causing it to move within the $0.022 and the $0.027 price zones. There is a possibility for a bullish breakout, as the support level has shifted slightly to $0.023 from $0.022. In the same way, the resistance has also shifted slightly.
Key Levels
- Resistance: $0.060, $0.065, and $0.070
- Support: $0.020, $0.015, and $0.010
Dash 2 Trade Price Analysis: The Indicators’ Point of View
The Bollinger Bands indicator is portraying the price channel as down-trending. This is due to the previous strong bear market that brought the price to the $0.022 price level. Recent market activities were represented as a plus sign doji, which means very significant indecision. Also, it could mean that the downtrend may be coming to an end as the bears are becoming weaker. However, for now, the market ranges below level 50 in the Relative Strength Index (RSI) indicator.
Dash 2 Trade Short-Term Outlook: (1-Hour Chart)
From this perspective, we see that the bearish trend might indeed be coming to an end as the support level continues to hold, despite the selling pressure. If buyers continue to keep their grip on this $0.0226 demand level, the price might eventually break out to the upside. The Moving Average Convergence and Divergence (MACD) is about to capture this possibility as the faster line prepares to cross the slow line in the bearish zone.
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