Dash 2 Trade (D2T/USD): Bulls and Bears Face Off at $0.008

The $0.008 price is a crucial price level in the D2T market. For the bulls, this price level needs to be captured if the market is to rally back to the $0.01 price level. However, the bull market, after breaking out from slightly below the $0.007 price level, faces bearish resistance at $0.008.

Key Levels

• Resistance: $0.015, $0.016, and $0.017
• Support: $0.007, $0.006, and $0.005.

Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View

The Bollinger Bands are already indicating that the market is about to have a volatility squeeze around the crucial price level. The D2T market should break out in a bullish direction, as a volatility Squeeze often precedes a decisive price breakout.

According to the Moving Average Convergence and Divergence (MACD), it already has a bearish crossover, but the two lines move horizontally. This means that although the market begins facing south, the bullish support seems to be preventing the bearish advancement.

D2T/USD Short-Term Outlook: 1-Hour Chart

From this timeframe, we can see that since the previous daily session, the price has continued to move along the equilibrium level and within the price channels of $0.007828 and $0.008. At around the 7th hour of today, the bull market significantly charged at the $0.008 price level but could not follow through, so the price fell back to the equilibrium level.

One would have known that bulls would be exhausted because the volume of trade did not make significant changes that were in accordance with the bullish candle for the 7th session. Our expectation is to see a bullish breakout following this period of price consolidation.

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