The D2TUSD bulls are currently gaining control over the $0.0100 price milestone. The entirety of yesterday’s trading session was under the dominance of the bulls, and the substantial liquidity in the bull market has driven the price up from the $0.0070 price point to the brink of the $0.0100 level. In fact, during the final 4-hour session of yesterday’s market, the price surged to a peak of $0.01076 before a retracement was initiated.
Key Levels
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.005, $0.004, and $0.003.
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
Regarding the continuation of yesterday’s D2TUSD trend, today’s market is showing a tendency to consolidate around the level to which the price retraced. Since the start of today’s trading session, the market has been in consolidation near the $0.0090 price level. Additionally, the Volume of Trade indicator has displayed a significant reduction in trading volume for today.
According to the Relative Strength Index (RSI), yesterday’s aggressive bullish movement has driven the market well into the overbought region. In such a scenario, a rebound should be anticipated, and that is what has played out on the chart. The bull market still has potential for further movement. Today’s market has, up to this point, been utilized to reinforce the $0.009 price as a support. With this support in play, the $0.0100 level will likely experience bullish pressure and ultimately yield.
D2T/USD Short-Term Outlook: 1-Hour Chart
On the 1-hour chart, the Bollinger Bands have contracted, indicating imminent directional movement in the market. Given the successful defense of the $0.009 support level by the bulls, there is a likelihood that the forthcoming shift in market dynamics will favor the bullish direction.
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