The D2TUSD pair experienced a notable bull market that reached its peak at the $0.0107 price level on August 23. Since then, the market has embarked on a corrective phase, which, though challenging, presents opportunities.
Initially, there was optimism that the market would find support at the $0.0066 price level, the starting point of the earlier bullish cycle. However, on the previous trading session (Monday, September 4), selling pressure pushed the price below this level.
Key Levels
- Resistance: $0.010, $0.011, and $0.012.
- Support: $0.006, $0.005, and $0.004.
Dash 2 Trade (D2TUSD) Price Analysis: The Indicators’ Point of View
It is worth noting that towards the end of the last D2TUSD 4-hour trading session, there was a significant surge in investor interest, as evidenced by a substantial increase in trading volume. This heightened interest suggests that market participants are closely monitoring D2T and looking for potential opportunities.
It’s also worth mentioning that the last 4-hour session featured an inverted hammer candlestick pattern. At the session’s outset, the bulls initiated an upward move, pushing the price to a high of $0.00709. However, sellers entered the market, leading to a retracement that eventually saw the market close near its opening price. This pattern could indicate a potential shift in momentum.
D2T/USD Short-Term Outlook: 1-Hour Chart
Taking a look at the 1-hour chart, we can observe the Bollinger Bands converging around the $0.0063 price level, which is situated just below the pivotal $0.0066 price threshold. This convergence within bullish territory suggests the possibility of an imminent upward breakout in the market.
Observing today’s trading session, the market has been trading below the $0.0066 support level. While recent challenges persist, the heightened investor interest and the inverted hammer pattern from the previous session may signal that the market is at a critical juncture. Traders should continue to monitor D2T closely for potential opportunities as market dynamics evolve.
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📆 End-of-month look-back 📆
Another month has passed by in the volatile world of cryptocurrency. As usual, it’s a mix of highs and lows, victories and setbacks. Let’s look at what happened in August and see what the Bulls and Bears brought to the arena. As usual, we start with… pic.twitter.com/tEdfgcX2S9
— Dash 2 Trade (@dash2_trade) September 4, 2023
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