Dash 2 Trade embarked on an upward price trajectory from the onset of October. Subsequently, the market price has consistently tested the $0.0050 resistance level, propelled by the enduring strength of the bullish sentiment, which has also established numerous higher support levels. As the count of these higher support levels accumulates, the frequency of testing the $0.005 resistance level by the bullish market intensifies. Consequently, there is mounting pressure on the positions of the bearish traders operating in proximity to this level.
Key Levels
- Resistance: $0.010, $0.011, and $0.012.
- Support: $0.005, $0.004, and $0.003.
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
Since the beginning of October, Dash 2 Trade market activity has been shaping an ascending wedge triangle pattern, typically signaling the potential for an upward price breakout. The bullish position in the market is steadily advancing toward the resistance level, bolstered by the continuous formation of higher support levels. In the upcoming week, we anticipate a breakthrough above this resistance level.
This presents a favorable opportunity for the bull market to achieve its targeted price levels, as indicated by the prevailing dominance of the bulls according to the indicators. Notably, despite the presence of long upper and lower shadows in most candlesticks, these fluctuations have not significantly impacted the volatility level. Bollinger Bands have not demonstrated any substantial expansion in volatility.
The bullish stance may persist, maintaining a stable market environment, until a complete recovery is achieved.
D2T/USD Short-Term Outlook: 1-Hour Chart
The absence of Bollinger Bands expansion, which is also reflected in the 1-hour chart analysis, suggests that the price is persisting within a relatively narrow range, despite observable market activity. This observation implies the potential for a consolidation phase or a period of market indecision.
Contrastingly, the 4-hour chart analysis reveals that the bulls are currently maintaining control, contributing to the ongoing uptrend in the market. Nevertheless, it is prudent for bullish investors to prepare for the possibility of market consolidation, particularly around the critical price level of $0.005.
With Dash 2 Trade, you have access to useful tips and commentary that can help you stay on top of your game.
📆 End-of-month-lookback for Sep 2023 📆
September has rolled in, and it seems the #Bears may have an edge this month in the dynamic #cryptocurrency market. Let’s dissect the developments of September.
🟢 #Bullish News 🟢
1. Chinese Court Ruling
Despite the 2021 Beijing ban… pic.twitter.com/AfX0nbSXPb
— Dash 2 Trade (@dash2_trade) October 5, 2023
Do you want a coin with great potential for enormous returns? Dash 2 Trade (D2T) is that coin. Buy D2T now!
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