After Dash 2 Trade settled at the $0.032 level, the market could neither rise to the next price level nor fall below the support level. Towards the end of the daily session, the market saw significant pressure on the price from both sides but without any significant change in the position of the price. Optimism is growing as traders’ interest in the market in the last few hours of today’s trading session increases.
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
The price action over the past few days has formed a symmetrical triangle pattern on the chart. This illustrates a period of price consolidation. The price consolidation trend is approaching its climax as its support level and resistance level converge. We can expect a break out of the market to the upside or downside. The breakout can be on either side. Another interesting possibility is that the consolidation trend may continue. For now, according to the Relative Strength Index (RSI), the market is slightly above level 50. The bulls are coming up.
D2T/USD Short-Term Outlook: (1-Hour Chart)
Also, from the 1-hour standpoint, the intense struggle is reaching its peak, and there could be a price break soon. For the most part of the daily session, the bull market and the bear market have been very responsive to each other, and the price continues to oscillate closely along with the midpoint level. Although it seems tricky to predict the next direction of the market, as we are seeing a slight advancement of the price above the midpoint level, it confirms our expectation of an upside breakout of the market.
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