As expected, the D2T bear market could not go beyond the $0.01 price level. After a while of consolidation around the level, an upside retracement was anticipated. This started taking place on Saturday towards the end of the daily session and gained more momentum the following day. The very first 4-hour session on May 22 was completely bullish.
Key Levels
- 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
This strong bullish trend in the first 4-hour session triggered an aggressive bearish trend. The market retraced to $0.013 from the high level of $0.0168, and since then, bullish sentiment has become stronger around the level. The bearish response from the $0.0168 price level sparked volatility in the market. This is evident by the diverging Bollinger Bands. The volatility may not last as today’s market shows a faceoff between forces of demand and supply. As the volatility cools off, a consolidation trend may take place at this level, which may strengthen the $0.013 demand level.
D2T/USD Short-Term Outlook: 1-Hour Chart
In the 1-hour time frame, the consolidation trend is building up. The Bollinger Bands contracts The market may break out in a bullish way sooner than expected. Buyers still had the $0.02 price level as their target. The current price retracement is an opportunity for buyers to get on board, as bulls still have their target in view.
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