The D2T market is set for a bullish cycle in today’s session. In the previous daily session, the market closed in favor of the buyers; at $0.028, which was the resistance for the last daily session. Today’s session opened at the same price level. Then there was a prolonged struggle here that kept the price pegged for most of the 4-hour sessions of today. In the fourth session of today, however, we saw a strong bullish move that broke through the $0.03 price mark and set the market at around $0.0307
Key Levels
- Resistance: $0.060, $0.065, and $0.070
- Support: $0.020, $0.0025, and $0.030
Dash 2 Trade (D2T) Price Analysis: The Indicators’ Point of View
After finally reclaiming the $0.03 price level, the market appears to be suffering from a deadlock price situation as it remains pegged around the current price. At the moment neither the bulls nor the bears could gain dominance over the market. However, the bull market has pushed through, judging by the bullish performance in the fourth 4-hour session. The bear market is moving backward to secure another resistance level. The Bollinger Bands indicator portrays increasing market volatility even though the bulls have the upper hand.
D2T/USD Short-Term Outlook: (1-Hour Chart)
The market appears to have hit a major resistance level, and the bullish move is being limited to the $0.031 price level. Looking at most of the 1-hour session today, we can see that the market is facing a gridlock price situation. After the significant bullish price breakout that launched the price above the $0.03 price mark, we began to see significant pushes from both the bullish side and the bearish side, but neither of them could control the price. At the moment, the struggle between both market forces is cooling down. There is now a growing trend of lack of interest among traders. This is evident by the low volume of trade.
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