This concluded week seems to have been a bullish week, not only for the Dash 2 Trade market but also for some other crypto markets in the industry. But the fact that the D2T market has been able to withstand much of the pressure from the bear market proves that the bulls in this market are still very formidable. Currently, as the market for May 6 draws near to the end, there seems to be a formation of a new support level at $0.011575.
Key Levels
- Resistance: $0.060, $0.065, and $0.070
- Support: $0.010, $0.009, and $0.008
Dash 2 Trade (D2T) Price Analysis: The Indicators’ Point of View
The Bollinger Bands are divergent, which means that the market still retains its volatility properties. The volatility of the market increases the chance for the bulls to take the market. By the end of April, the market was at the climax of a consolidation trend. So far in May, bears have been dominating the market. However, the bearish price or the downward movement of the price was not steep because of the presence of the bulls. Evidence of bullish activities is clear, and a bullish recovery is loading. Looking at the Moving Average Convergence and Divergence (MACD), the faster line is about to cross the lower line to confirm a bullish recovery.
D2T/USD Short-Term Outlook: 1-Hour Chart
From the 1-hour point of view of the market, the Dash 2 Trade buyers have found a comfortable demand line at the $0.011575 price level. The support level seems strong and has turned back the bear market. But, with the resistance level forming at a close-by price level, the market might enter into another price consolidation trend, after which it will break out again in a bullish way.
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