A brief spike in the momentum of the Dash 2 Trade bear market made the demand level shift lower to $0.0153. From this new level, traders began to place long trades, and this is reducing the bearish momentum. The $0.0196 price level is the next target for the bull market. This price level is the point at which bulls struggle with bears before we see a decisive breakout to the downside. As the downtrend weakens, it will make room for an uptrend.
Key Levels
- Resistance: $0.060, $0.065, and $0.070
- Support: $0.018, $0.017, and $0.016
Dash 2 Trade (D2T) Price Analysis: The Indicators’ Point of View
In the Relative Strength Index (RSI), we see that the market is illustrated as moving along the edge of the oversold region. When, according to the RSI indicator, the market moves near this threshold, the probability for an upside movement of the market is high, and that is what we can now see in today’s trading session. Dash 2 Trade is on a bullish recovery. Looking at the Moving Average Convergence and Divergence (MACD), we will notice that we are about to have a bullish crossover below level zero, and the faded red histograms approach the zero level.
D2T/USD Short-Term Outlook: 1-Hour Chart
The bulls are catching on, as they have returned the price to above the 20-day moving average. According to the Relative Strength Index (RSI), the market is now at a level where the bullish force is matching up with the bearish force. This could be because the market has encountered significant resistance around the current price level. However, with a strong base at the $0.0153 price level, we hope it breaks the resistance and moves on to achieve its target.
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