The $0.01 price level is a very important price level to buyers, and the market is expected to bounce for a price rally at this level. In the previous daily session, growing bearish sentiment forced the market slightly below this same price mark. However, in today’s market, bulls refused to let go of the $0.01 price level. D2T buyers gathered around the $0.0092 price level to form a strong baseline so that they could repel bearish advances as the bears appear to have claimed the $0.01 price level.
Key Levels
- Resistance: $0.035, $0.040, and $0.045
- Support: $0.015, $0.014, and $0.013
Dash 2 Trade (D2T/USD) Price Analysis: The Indicators’ Point of View
The resistance level is forming below the downtrending 20-day moving average. The recovering D2T bull market had to go flat as it encountered the $0.01 price level, which was formally a support level. Bearish pressure is forcing bulls to occupy lower demand levels as bears took over the $0.01 price level. Currently, the bullish support is at $0.00988. This means bulls are not totally out of the game, as the current support is still in proximity to the price mark. Therefore, buyers can still reclaim $0.01.
D2T Short-Term Outlook: 1-Hour Chart
The market is consolidating near the price mark, and the consolidation trend is now reaching its climax. The Bollinger Bands converge as an indication of an imminent bullish price breakout. The Relative Strength Index is showing signs of recovery as the RSI line reaches the 50 levels. Another possibility for the market is that the consolidation trend may continue. The D2T market may move within a narrow price channel at this level. The price consolidation will eventually strengthen the $0.01 price level and set it up as the basis for more bullish action.
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