Since the strong bull run peaked above the $0.0045 price level, the bearish side of the Dash 2 Trade pair has gained some strength. Consequently, when traders resumed buying at the $0.0035 price level, they still faced significant bearish pressure. This bearish sentiment caused the price to dip slightly to around $0.0032. The bulls are struggling to maintain their support levels due to market volatility.
Key Levels to Watch:
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.0020, $0.0018, and $0.0017
Dash 2 Trade (D2T/USD) Price Analysis: The Indicators’ Point of View
The Bollinger Bands indicator is showing a broad bandwidth due to market volatility. This volatility resulted from a strong upward price surge that peaked above the $0.0045 level. Such a significant bullish run within a short period is typically followed by a substantial price correction, which is currently evident in the market, as seen on the 4-hour chart.
However, as the bulls step in around the $0.0033 to $0.0035 price levels, the market may eventually consolidate, leading to a decline in volatility. This could pave the way for clearer price action, potentially retracing towards the $0.0045 or $0.005 levels.
D2T/USD Short-Term Outlook: 1-Hour Chart
The 1-hour chart for Dash 2 Trade illustrates a tug-of-war between bulls and bears. The price has established a critical support zone around $0.0033. Interestingly, the Bollinger Bands are contracting, creating a narrow price channel. Despite this, bearish pressure remains evident. The bulls are striving to maintain the support level at $0.0033, defending against the bears. This is expected, given the descending peaks in price action. The bulls must withstand this pressure to eventually outlast the bears and resume their upward trajectory toward their target.
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