The selling pressure is pushing the market closer toward the $0.01 psychological price level, and as the market nears this level, the pull and push on the price at this level are reaching a deadlock. But with the market nearing the key psychological price level, the likelihood of the market exploding in a bullish direction is very high.
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
After the market hit a bearish barrier at $0.0173, it went wide with high volatility. but then we saw a downturn in the volatility level as the decline in the buying pressure was also accompanied by the decline in the selling pressure. However, Dash 2 Trade bears had the upper hand over bulls, but as the market hit the $0.011 price level, the bearish trend was pegged, and the market ranged along this level. This price action is forming a falling wedge triangle pattern. The resistance level is falling, while the support level maintains the $0.011 price level. That could be a sign of a potential accumulation of buying pressure, which may result in the reversal of the trend. The bands of the Bollinger indicator converge around this psychological price level, adding to the likelihood of a bullish reversal.
D2T/USD Short-Term Outlook: 1-Hour Chart
A price consolidation trend is playing out as the market hits the $0.011 price level. The Relative Strength Index reflects the market’s continuous range around level 45. Although this is still in the sell zone, the selling pressure is reducing as the market nears the $0.011 price level. A trend reversal is very likely to play out at this level.
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