The D2TUSD bear market, which was initiated at the peak of $0.0107, did not succeed in propelling the market past the $0.008 price level, primarily due to the robust bullish sentiment prevalent around that particular market juncture. A back-and-forth struggle has persisted since August 26th. As the current month draws to a close, the potential for a price breakout in the upcoming month becomes increasingly viable.
Key Levels
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.005, $0.004, and $0.003.
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
Observing the D2TUSD market’s performance from yesterday to today, it becomes evident that the market gained some positive momentum. However, the repeated emergence of the shooting star candlestick serves as an indication that the bear market is gaining momentum. Additionally, the Bollinger Bands are contracting due to the increasing strength of the bearish sentiment, potentially leading to a downward price breakout.
Nevertheless, the existing demand level appears robust, leading traders to potentially congregate around a slightly lower level to facilitate a noteworthy rebound. This scenario is quite plausible because the trading volume during sessions where bears demonstrated notable strength was not substantial enough to uphold the prevailing sentiment.
Dash 2 Trade Short-Term Outlook: 1-Hour Chart
The shorter timeframe indicates the potential for ongoing consolidation near the equilibrium price level. This situation could potentially reinforce the pivotal support price of $0.008. Nonetheless, at present, the $0.009 price level has been dominated by sellers. It seems that longer-term traders might once again consider this level as a target for taking profits.
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