Establishing a robust support base at $0.0074, D2T/USD returns with renewed vigor. The D2T/USD market has surged beyond the $0.008 threshold, effectively countering bearish sentiment within this range. Despite facing resistance above $0.008, the bullish momentum is evident in the candlestick buildup, suggesting potential for a breakthrough beyond the slanty resistance level.
Key Levels
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.004, $0.0035, and $0.003.
Dash 2 Trade (D2T/USD) Price Analysis: The Indicators’ Point of View
It’s evident that since the peak of the bull market above the $0.011 mark on February 10th, the D2T/USD market has been forming lower highs, signaling the accumulation of bearish pressure within the $0.008 to $0.011 range. However, the establishment of a new support level above $0.008, specifically at $0.0081, may offer the necessary foundation to overcome the sluggish resistance. Additionally, the bullish momentum indicated by the Relative Strength Index supports this expectation, suggesting that bulls are still actively participating in the market. This crypto signal has the potential to lead to a breakout in the bull market.
D2T/USD Short-Term Outlook: 1-Hour Chart
Looking at the market through the lens of the 1-hour chart, the convergence of the support and resistance levels could lead to a consolidation phase, especially considering the significant drop in trade volume indicated by the volume of trade indicator. However, despite this, the Relative Strength Index (RSI) remains indicative of strong bullish momentum, with the RSI line measuring at 66. This suggests that bulls are still maintaining control of the market.
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