Long

DYDX Main trend 30 08 2024

Logarithm. Time frame 1 week. Horizontal channel. Beginning of entry into the capitulation zone (under channel support). Formation of a locally descending wedge, in the final phase of formation (volatility narrowing).

Line chart.

Secondary trend. Wedge.

Note

DYDX Secondary Trend. Capitulation Zone. Wedge. 30 08 2024

Note

🔈Previously a hype, "promising project" in the distribution zone, according to the majority. Due to the fact that a lot of "fresh blood" was planted in the distribution earlier, it still has a large capitalization. Although at the moment the decline is very significant, by -97%. It is worth taking a closer look to start buying, or wait for a breakthrough and a trend break (not necessarily per day, if you work in parts, having distributed the entry zones into the asset in advance).

✔️ It is a DEX, which is good for promoting (palming off) positive news in the future and justifying its usefulness when pumping into the alt season. The distribution zone of this cycle, after breaking the secondary trend (change) in coins of such liquidity, is usually + 800% -1000%. What, purely according to the chart, will be the median, or slightly above the large bowl, where this channel is its 2nd phase of formation.

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