Dash 2 Trade has found a firm footing at the $0.022 price level, and the market is turning around. However, the bulls have the supply level close by, so they need to deal with it first. The strong resistance that formed near the support level is at the $0.024 price level. But as long as the buyers can keep their demand level, they will wear out the selling pressure.
Key Levels
- Resistance: $0.060, $0.065, and $0.070
- Support: $0.025, $0.020, and $0.015
Dash 2 Trade (D2T) Price Analysis: The Indicators’ Point of View
According to the Relative Strength Index (RSI), the bear market is currently trading beyond its normal value. Therefore, at this point, the market is expected to rally in the correction of its declining value. However, the bears still seem aggressive at this time, and the bulls need to continue to keep a firm grip on this demand level till the massive selling wears out. The Bollinger Bands indicator has its lower band moving to the downside in response to the current action of the market. In contradiction to the Relative Strength Index, the Bollinger Bands indicator seems to signify that the bear market might still have more to offer.
D2T/USD Short-Term Outlook: (1-Hour Chart)
The struggle for control of the market may be reaching its peak as the Bollinger Bands indicator contracts against the market’s activities. The price has now begun to move along with the 20-day moving average. The contraction of the bands means the price will soon break into an uptrend as the bearish aggression subsides. But for now, bulls and bears are evenly matched. The Relative Strength Index (RSI) is measuring a growing weakness in the bear market, and the bulls are coming into the market. The next stop for the market should be $0.040.
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