Since May 28, the Dash 2 Trade bull market has repeatedly tested above the $0.012 price level but has faced constant rejection at the level. But with the support level now near the $0.012 resistance level, the level is under pressure to give way to bullish advances. Apart from the repeated testing of the resistance level, we also have the repeated appearance of the bullish inverted hammer, which is a sign of growing bullish activity in the market.
Key Levels
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.010, $0.009, and $0.008
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
The last 4-hour session of yesterday’s market was completely bearish, but today’s trading session opened with a bullish inverted hammer candlestick. This shows that the D2T bull market is gaining momentum to come back to the bearish resistance. Also, apart from the fact that the Bollinger Bands indicator now starts to portray the upward-moving price channel, the bands converge as a sign that the market might see a bullish break out soon.
D2T/USD Short-Term Outlook: 1-Hour Chart
Due to the price retracement, the market is trading below the 20-day moving average. But the support level is feeling very strong and the bear market is not likely to be able to break this price level. Dash to trade is set to move northward, but the volume of trade is a bit in short supply.
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