The emergence of a significant price level at $0.0031 indicates that there is both buying and selling interest at this level. It was anticipated that the D2T/USD market would rebound from here and rally to the $0.0035 or potentially the $0.004 price level. However, the market remained stagnant at this level throughout June 26 and into today. During the third 4-hour trading session, the market experienced a downward break, encountering strong support at the $0.0030 price level.
Key Levels to Watch:
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.0020, $0.0018, and $0.0017
Dash 2 Trade Price Analysis: The Indicators’ Point of View
Our previous analysis indicated a shift in consolidation levels favoring the bears. Initially, the D2T/USD market consolidated at the $0.0032 price level, then shifted to $0.0031, and now has moved to $0.0030. This downward shift is reflected in the Bollinger Bands, which are indicating a downtrending price channel.
Despite this development, there is hope for a price rally, given that the Relative Strength Index (RSI) is currently in oversold territory. As the market is oversold, a correction is expected soon. This correction, coupled with substantial bullish sentiment at this level, may eventually cause the market to rally significantly and reach the targeted price levels of $0.0035 or $0.0040.
D2T/USD Short-Term Outlook: 1-Hour Chart
The significant standstill observed in the market yesterday indicated that a substantial movement was imminent. As it has turned out, the market has broken in favor of the bears. However, indications suggest that this bearish move will be short-lived, as the RSI is currently measuring momentum below the 30 level. This suggests that the bear market may not extend beyond the $0.003 level, especially considering the low trading volume recorded in the current session.
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