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Dash 2 Trade (D2T/USD) Is Ready to Claim the $0.008 Resistance Price Level

Johnathon Fox
06/23/2023 | UPDATED ON: 06/23/2023

Dash 2 Trade turned around at the $0.00659 price level on June 17, and since then it has gained steady traction despite the presence of bears in the market. However, at the $0.008 price level, the market faced strong resistance. The increased level of volatility in the market currently is responsible for the wide oscillatory movement of the price around this level.

Key Levels

  • Resistance: $0.015, $0.016, and $0.017
  • Support: $0.007, $0.006, and $0.005.

Dash 2 Trade (D2T/USD) Is Ready to Claim the $0.008 Resistance Price Level

Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View

Currently, the Dash 2 Trade market swings high and low between the $0.0075 and $0.0085 price channels. Although the high level of volatility may give bears the chance to reject the bullish price at $0.008, as long as bulls can keep the market above the 20-day moving average a little longer, they can reclaim the $0.008 price level.

A near-support level at the $0.008 price level is forming around the $0.0078 price level. This is a sign that traders are still bullishly biased on this market, even though the histograms of the Moving Average Convergence and Divergence (MACD) are on the decline. The market should bounce back into action from here.

Dash 2 Trade (D2T/USD) Is Ready to Claim the $0.008 Resistance Price Level

D2T/USD Short-Term Outlook: 1-Hour Chart

The struggle around the key resistance level is clearly portrayed here in the 1-hour timeframe, as the market went completely flat around the $0.0078 price level. However, the Moving Average Convergence and Divergence (MACD) indicator shows a timely recovery at the threshold of the negative zone. We can say that bulls are reclaiming the resistance level.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
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