Dash 2 Trade Price Prediction for Today, May 8: D2TUSD Price Resuming Fresh Uptrend
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Dash 2 Trade Price Forecast: D2TUSD Price Resuming Fresh Uptrend (May 8)
The D2TUSD pair is about to resume its bullish race. The cryptocurrency is trying hard not to fall heavily to the downside. Therefore, if the bulls could trigger their buying forces in the market, the coin price may likely increase further to retest its previous high of $0.02384 level which could surge higher to hit the $0.1000 upper resistance value and beyond. Thus, a clear buy signal and turnaround for the coin holders.
Key Levels:
Resistance levels: $0.05500, $0.06500, $0.07500
Support levels: $0.03500, $0.03000, $0.02500
D2T (USD) Long-term Trend: Bearish (4H)
As shown in the chart, the price of Dash 2 Trade is in a downtrend. The price bar can be seen trading below the supply trend levels which has confirmed its bearish trend.
The cryptocurrency has been interfering with the sell traders in the previous action and has dropped the price below the resistance levels in its recent high.
The D2TUSD price earlier today, gave a bullish breakout at the $0.01182 resistance value below the two EMAs as the 4-hourly chart opens today, this indicates the return of the bulls to the market to resume fresh uptrend rally and also dominates the market prices.
Meanwhile, further aggression by the long traders could break up the $0.02384 previous swing high which would strengthen the bullish pressure.
Furthermore, there is likely to be a potential increase in the coin price soon as the market has reached the oversold region of the daily stochastic.
If that occurs, the first upside target could be the $0.02384 resistance value followed by a $0.1000 upper resistance level in the coming days in its higher time frame.
D2T (USD) Medium-term Trend: Bearish (1H)
On the medium-term outlook, the Dash 2 Trade price can be seen below the two EMAs, which means that the price is in a bearish market arena.
The coin having dropped down to a low at the $0.01155 level in the previous action has been rejected by the bulls at the moment.
Being affected by the widespread uncertainty in the crypto market, the D2TUSD price showed a slow yet steady recovery in the 1-hourly time frame chart today. The coin price bullish reversal from the $0.01155 psychological support to the $0.01182 has recorded 20.4% growth within the last few hours.
Based on the outlook, should the bulls push higher and close above the $0.01743 high mark, a bullish breakout confirmation will reflect the improved market sentiment.
Adding to that, the daily stochastic suggests an uptrend by pointing in an upward direction. We now look at the emergence of more buy traders to resume a fresh uptrend soon, if this occurs, the next bulling trend cycle might reach the $0.1000 resistance level in the coming days in its medium-term perspective.
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