Recently, the market stabilized at $0.0035, but increased downside volatility has strengthened the bearish trend. The Dash 2 Trade bulls managed to find support at the $0.0032 level to counter the bearish momentum. Despite the market’s downside volatility, bullish presence at this level remains strong. However, resistance is beginning to form at the $0.0034 level, indicating renewed bearish activity.
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 market appears to be finding a range between the $0.0032 support and $0.0034 resistance levels. This could lead to a period of decreased volatility as bulls and bears establish their positions. Since Monday, June 10th, there has been a tug-of-war at the $0.0034 resistance, with bears successfully holding back significant bullish advances. Today’s session saw bulls retreat from this key level, but a strong response at the $0.0032 support established a new potential support zone around $0.0033.
D2T/USD Short-Term Outlook: 1-Hour Chart
The 1-hour chart also highlights the resistance at the $0.0034 price level. Since morning, the Dash 2 Trade market has been swinging downward, emphasizing the aggressive bearish pressure below this resistance level. The resistance remains firm, preventing any price action above it. Despite this, the bullish support at the $0.0032 level has maintained resilience against the bearish momentum, protecting the key support level. If the bulls continue to hold this higher support level, it increases the likelihood of breaking through the resistance at $0.0034.
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— Dash 2 Trade (@dash2_trade) June 11, 2024
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