D2T/USD traders have capitalized on the opportunity to buy the dip as the market fell below the critical $0.003 price level. Consequently, the market has begun trending upward. Since the onset of this movement, the market has gained bullish momentum, driving the price towards the $0.003 level. The bull market is currently maintaining this level, anticipating a potential breakout.
Key Levels to Watch:
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.0020, $0.0018, and $0.0017
Dash 2 Trade Price Analysis: The Indicators’ Point of View
The chart clearly depicts bearish strength above the $0.003 price level. Although the bulls are strong, they eventually succumb to the relentless pressure from the bears. The struggle has now moved to the $0.0028 price level. Hopefully, the bulls can gather sufficient momentum to challenge the $0.003 price level again. Regarding the indicators, the market is still ranging sideways, maintaining a price channel between $0.003 and $0.0028. A break above the $0.003 price level would establish a bullish trend.
D2T/USD Short-Term Outlook: 1-Hour Chart
The 1-hour chart reveals a convergence of the Bollinger Bands, indicating a decline in volatility. This trend often precedes a decisive market move, which will hopefully be upward. However, a breakout may not occur soon, as the bandwidth of the Bollinger Bands remains substantial. The tightening of the Bollinger Bands will precede a decisive market action.
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