The D2T/USD market is poised to establish a new higher support level, particularly around the $0.010 mark. On February 17th, a significant surge propelled the price from $0.0084, with a particularly notable increase occurring within the fourth four-hour session, culminating in a notable halt at the $0.011 level. Despite encountering resistance at this juncture during the same session, the price rebounded in the subsequent session, only to face rejection once more. This underscores the resilience of the $0.011 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
The rebound at the $0.01 price level has initiated an upward shift in the three indicator lines of the Bollinger Bands. Sustaining control over the $0.010 price level by the bulls would validate the emergence of a market trend. However, the upper shadow observed on the latest bullish candlestick suggests bearish pressure originating from the $0.011 resistance level. Additionally, the failure of the bullish trend to reach the $0.011 level, unlike the previous two peaks, signals the accumulation of bearish momentum. Nonetheless, there remains the possibility for bulls to maintain the $0.010 support level and establish higher support levels, thereby dampening bearish sentiment and facilitating the continuation of the upward trend in the market.
Dash 2 Trade Short-Term Outlook: 1-Hour Chart
As evidenced by the 1-hour chart, market activity has been characterized by flat or doji candlesticks around the $0.010 price level until a notable bullish breakout occurred on the 14th of today’s trading session. This suggests that this level has emerged as a support level, and if the current price retracement persists toward this level, bullish sentiment may counteract the bearish momentum at the $0.010 price point. This could potentially lead to another upward bounce towards the $0.011 price level, with the expectation that this time the price will successfully breach the resistance barrier.
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