Dash 2 Trade’s bull market came across a strong brick wall at the $0.035 price level, where the bullish price was rejected with a very significant bearish move that forced the bull market to find support at the $0.028 price level. From this price level, the bulls set the stage for the market to bounce back into the $0.030 and $0.035 price zones. The bulls are back in action, and the market prepares to reach a new height.
Key Levels
- Resistance: $0.035, $0.040, and $0.045
- Support: $0.014, $0.0013, and $0.012
Dash 2 Trade (D2T) Price Analysis: The Indicators’ Point of View—Bulls Set the Stage for a Comeback
According to the Relative Strength Index (RSI), the price retracement was a result of the market recovering from overbought territory. In previous markets, the price of D2T has pumped due to aggressive bullish activities from the demand zone that have launched the market into overbought territory. While the bull market still retains the propelling force that is behind the uptrend, it settles at $0.03 as it prepares for more action. The resistance level has shifted to $0.034 as the bear market gathers momentum, but the demand line is still at $0.030. The struggle gets intense; this will precede the bullish price breakout.
D2T/USD Short-Term Outlook: (1-Hour Chart)
From the 1-hour outlook on the market, the appearance of the Doji candlesticks on the chart is a pointer to a very significant price deadlock. One of the two forces in the market will have to succumb to the pressure of the other. Although, due to bearish pressure, the bulls were forced to take refuge at the $0.03 price level, they still have an advantage over the bears as the force behind the bullish trend is still very much active.
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