Between May 9 and May 11, the Dash 2 Trade bull market tested the $0.0152 price level on several occasions but could not break through the resistance. The support level at $0.0139 has played a major role in helping the bulls continuously bombard the resistance level. But in the third 4-hour session of yesterday’s market, the bullish price was rejected, and the market for that session closed at $0.0139, which is the support price level. The fourth 4-hour session saw a very significant lack of decision-making, which was represented by a plus sign doji. This was a sign that the bears would claim the support level. The bear market was stopped as bullish sentiment grew around $0.0125.
D2T/USD Price Statistics
- Resistance: $0.035, $0.040, and $0.045
- Support: $0.015, $0.014, and $0.013
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
The $0.0125 price level is a major psychological price level. The bull market is expected to bounce back to action at this level because it was the retracement point for the last bull market on May 9. The bull market needed to retrace to a lower price level after hitting strong resistance around $0.0152. The formation of the support price level at $0.0125 was the basis for the continuation of the bullish trend back then. At this point, the Bollinger Bands exploded; however, as bullish momentum cooled down and the bulls lost grip on the $0.0125 price level, the Bollinger Bands converged.
D2T/USD Short-Term Outlook: 1-Hour Chart
According to the Bollinger Bands indicator, the two standard deviation curves illustrate the down-trending price channel. But the bear market is expected to end at $0.0125. This is an opportunity for traders to go long for a profitable return. The latest 1-hour session suggests indecision in the market. This may mean that the bulls are coming back and might take the market in the next daily session as the volume of trade increases.
To make wise trading selections, keep a close check on these price changes and indicators using Dash 2 Trade.
📈📉 #Ethereum ( $ETH) Price Battle: Will it Recover or Sink Further?
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