The D2T/USD market has been confined to a relatively tight price range, oscillating between $0.004 and $0.0045. While the candlestick patterns indicate active involvement from both bullish and bearish participants in the market, the trading volume has not exhibited a notable disparity that would instill confidence among bullish traders.
Key Levels
- Resistance: $0.010, $0.011, and $0.012.
- Support: $0.004, $0.003, and $0.002.
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
Despite the notable activity in the D2T/USD market, the Bollinger Bands did not expand significantly. However, they do indicate a slight progression of the market towards the targeted $0.0045 price level. Initially, there was a bullish trend as the price found support at $0.0037 on October 22, signifying active buyer participation and upward price momentum.
Nonetheless, the progress of the bull market toward the upper boundary of the channel, specifically at $0.0045, has been sluggish and delayed. This slow pace may imply a lack of substantial momentum to propel prices significantly higher. This absence of robust momentum is reflected in the non-divergence of the Bollinger Bands indicator.
D2T/USD Short-Term Outlook: 1-Hour Chart
On the 1-hour chart analysis, a prominent feature is the prolonged flat market activity centered around the $0.0044 price level. This flat market phase began toward the end of the previous market cycle and has persisted throughout today’s trading session, resulting in an exceedingly stable market condition at this particular price level.
Currently, the Bollinger Bands are contracting, indicating an imminent shift in the market’s direction. At first glance, it appears to be breaking out to the downside, with the candlesticks showing longer, lower shadows. However, these extended shadows may suggest that the bullish sentiment remains robust, as buyers are potentially targeting higher price levels. This indicates a possible period of price consolidation before a more decisive market movement.
With Dash 2 Trade, you have access to tips and commentaries that will set you above your market.
Dash 2 Trade Development Update:
01.11.2023Testnet contract for subscriptions delpoyed, big events page upgrade, updates to the subscription page, health checks and more.
-First version of the subscription smart contract deployed on testnet.
-Multiple events page… pic.twitter.com/aE2JVtKgwk— Dash 2 Trade (@dash2_trade) November 1, 2023
Do you want a coin with great potential for enormous returns? Dash 2 Trade (D2T) is that coin. Buy D2T now!
Leave a Reply