The Dash 2 Trade market has decisively broken free from the stalemate at the $0.00581 price level. Bulls exerted continuous pressure around the $0.00600 price level since August 11, and this tenacity bore fruit on August 13 when the supply level finally gave way.
After surmounting this obstacle, the bulls wasted no time and swiftly reached the subsequent resistance at $0.0065. In the transition between the latter part of yesterday’s trading session and the early part of today’s trading session, the market resistance relinquished its hold, and it appears that the market is now adopting this resistance level as its newfound support.
Key Levels
- Resistance: $0.015, $0.016, and $0.017
- Support: $0.005, $0.004, and $0.003.
Dash 2 Trade (D2T/USD) Price Analysis: The Indicators’ Point of View
Despite the Relative Strength Index indicating an overbought condition in the D2T/USD market, it appears that the market has established a robust bullish foundation above the $0.0065 price level. With its reading above 70, one could anticipate a potential corrective price retracement.
However, considering the insights provided by the Bollinger Bands indicator, there seems to be further potential for bullish movement by the bulls. The broader sentiment remains favorable to the bullish side, even as they navigate resistance at the $0.006695 level.
Dash 2 Trade Short-Term Outlook: 1-Hour Chart
Taking a look at the 1-hour chart, the Bollinger Bands seem to be narrowing their range as the bullish momentum encounters a significant resistance barrier at $0.0067. While the support base lies at the $0.0065 price level, the $0.0067 resistance level is currently facing intense pressure. Considering the analysis of the most recent historical data, there is anticipation that this supply ceiling could eventually break. In such a scenario, the next potential target for the market could be the $0.0070 price level.
Through the Dash 2 Trade platform, you have the latest trend in the crypto space at your fingertips.
🔍 Smart Money Insights 🚀
📊 Another week of sideways action, but if you’re still here grinding, you’re on the path to conquer the Bull. Smart Money’s stablecoin holdings dipped slightly this week, a rare move. Just yesterday, it fell to 11.7%, possibly linked to a Smart Money… pic.twitter.com/Pnw0ecl1lj
— Dash 2 Trade (@dash2_trade) August 15, 2023
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