After a prolonged period of equilibrium between demand and supply at the $0.004 price level, as of April 18th, bearish pressure has once again gained momentum, precipitating a downward shift in the market. This bearish trend intensified, driving the Dash 2 Trade market towards $0.003 by April 24th. However, within this price range, the bearish momentum became unsustainable, prompting bulls to establish a support level at $0.0035. Nevertheless, bulls have yet to regain control above the $0.004 threshold. Nonetheless, indicators suggest that the market may be poised for a breakout, potentially surpassing the critical $0.004 price level.
Key Levels to Watch:
- Resistance: $0.015, $0.016, $0.017
- Support: $0.0035, $0.003, $0.0025
Dash 2 Trade (D2T/USD) Price Analysis: The Indicators’ Point of View
As a glimmer of bullish momentum emerges in the Dash 2 Trade market, one notable observation is the heightened volatility within each four-hour session since April 25th. Despite this increased volatility, the equilibrium between demand and supply persists. Although bulls managed to drive the market above the $0.004 price level during one of the four-hour sessions on April 28th, this bullish surge proved unsustainable, as the price subsequently retreated below this threshold. Notably, the Bollinger Bands are converging sharply, suggesting an imminent breakout in a discernible direction for the market.
D2T/USD Short-Term Outlook: 1-Hour Chart
Analyzing the 1-hour chart, it becomes apparent that bearish pressure is exerting an influence on the bullish position near the $0.0035 price level. Despite this pressure weighing on the market’s bullish stance, there are indications of diminishing bearish momentum. This assessment is supported by the relatively low trading volume, as indicated by the volume indicator. Consequently, the likelihood of further downward price movement appears diminished in the Dash 2 Trade market. Instead, there is a growing possibility of an upward shift in momentum, suggesting a potential move towards higher price levels.
Buy D2T/USD!
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