Dash 2 Trade Price Predictions for Today, May 6: D2TUSD Price to Retrace at the $0.01565 Support Level, Buying Time is Near!
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Dash 2 Trade Price Forecast: D2TUSD Price to Retrace at the $0.01565 Support Level, Buying Time is Near! (May 6)
The Dash 2 Trade price is likely to reverse at the current support level of $0.01565 if the mentioned level holds as the coin is about reaching the oversold region of the market. The coin may possibly face the positive side if the buy traders should exert more force and push the price above the $0.02338 supply level. The cryptocurrency might swing up to retest its previous high of $0.02951, which could further lead the coin price to hit the $0.1000 upper high mark and beyond.
Key Levels:
Resistance levels: $0.03500, $0.04500, $0.05500
Support levels: $0.02500, $0.01500, $0.01000
D2T (USD) Long-term Trend: Bearish (4H Chart)
Dash 2 Trade price is in a bearish market at the moment. Further, the coin is trading below the moving averages. The bearish pressure at the $0.01493 support level in the past few hours has made the coin stay below the supply trend levels in its recent low.
The bulls actually hit the resistance level of $0.01622 after which the sell traders’ inflow dropped the price down to a $0.01565 low value below the two EMAs as the 4-hourly chart opens today.
However, price reversal at the mentioned current support level is more likely; traders can buy the cryptocurrency at a low price with this current trend and move the market prices to the key psychological level at the upside.
Next, price retracement at the $0.01565 support level is more likely as the market now trades at the oversold region of the daily stochastic. This will compel the buy traders to resume an upside move soon. The price might likely rebound at the current support level to reach a $0.1000 supply level in the days ahead in its long-term outlook.
D2T (USD) Medium-term Trend: Bearish (1H Chart)
The currency pair is also showing a bearish sentiment in its medium-term outlook. The price actions can be seen below the moving averages which confirm its bearish trend.
The price drop to the $0.01493 support value by the bears in the previous action has led the coin price below the supply trend levels in its recent low.
The bulls caused a rise to the $0.01628 supply level after which the sell traders intervened and smashed the price of Dash 2 Trade down to a low of $0.01565. However, long traders can join the market or invest in the cryptocurrency with the current trend and buy at a lower rate for more gains in the future.
Thus, traders who buy the coin during the bearish market will also make gains in the future. This will reflect an increase in the trend momentum.
Meanwhile, a possible reversal at the $0.01565 support value is possible, as the selling pressure is about to end. The D2TUSD market is now trading in the oversold region. This means that the buying momentum will soon resume, if this is achieved by the bulls, the upside moves may likely retest the $0.01910 previous supply level to hit the $0.1000 upper resistance level in the days ahead in its medium-term time frame.
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