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Dash 2 Trade (D2T/USD) Is Very Likely to Bounce at $0.010

Johnathon Fox
05/19/2023 | UPDATED ON: 05/19/2023

D2T‘s bear market was slowed down due to the presence of bulls in the market. At each decision point since April 27, bullish efforts to regain control have, most of the time, resulted in lower highs. For now, bears have the upper hand, and the market is approaching $0.010. There is a chance that the downtrend will come to an end at this level.

Key Levels

  • Resistance: $0.035, $0.040, and $0.045
  • Support: $0.010, $0.009, and $0.008

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

The Bollinger Bands Indicator portrays a down-trending narrow price channel. The D2T downtrend is not a steep one, as, at some point, the market ranges sideways. Over the course of a long period, the consolidation trend tilts in favor of bears. The $0.01 price level is the point at which the uptrend started on February 11. It then hit a high of $0.054 on March 6 before embarking on its long downside journey. The quick price correction to the $0.01 price level after a significant amount of liquidity in the bear market brought the price below the support level in the fifth 4-hour session might be a sign that sellers may not be able to go further.

Dash 2 Trade (D2T/USD) Is Very Likely to Bounce at $0.010

Dash 2 Trade Short-Term Outlook: 1-Hour Chart

The Bollinger Bands indicator reflects bullish activity. After the consolidation trend around the $0.0111 price level, the market broke out to the downside. It was supposed to be a massive bearish breakout because the volume of trade saw a very significant spike, but the bearish market was cut short at the $0.01 price level. Buyers are not willing to buy at a lower price; therefore, we should expect a rebound.

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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 →
Previous Post: « NZDUSD Maintains Its Bullish Trend After A Bounce Off 0.61120
Next Post: Lucky Block Price Prediction: LBLOCKUSD May Hit the Wall at the $0.0001390 support Value to Rise Soon, Watch out for Buy! »

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