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Dydxanalysis

DYDXUSDT.1DBased on the provided market data for DYDX, the currency is currently trading at a price of 2.692 against USDT. The Relative Strength Index (RSI) for 4 hours, 1 day and 7 days are 64.92, 73.96 and 62.9 respectively. The RSI for 1 day is above 70, which is generally considered overbought, indicating that a price correction might be due. The Moving Average Convergence Divergence (MACD) for 4 hours, 1 day and 7 days are 0.051, 0.124 and 0.030 respectively. The MACD being above zero indicates the short-term average is above the long-term average, suggesting upward momentum. The Bollinger Band (Bb) for 4 hours, 1 day and 7 days are 2.685, 2.674 and 2.630 respectively. The current price is above the 4-hour and 1-day Bollinger Bands, suggesting the currency is trading at a relatively high level. The support levels for 4 hours are 2.494, 2.346 and 2.179, and resistance levels are 2.744, 2.986 and 3.061. For 1 day, support levels are 2.289, 2.074 and 1.900, and resistance levels are 2.790, 3.190 and 3.339. For 7 days, support levels are 2.098, 1.787 and 1.363, and resistance levels are 3.121, 3.645 and 4.290. In my opinion, DYDX is currently in a strong upward momentum as indicated by the RSI and MACD. However, the overbought RSI for 1 day suggests there might be a price correction in the short term. The currency might test the resistance levels in the coming days, but if it fails to break through, it might retrace back towards the support levels. As always, it's advised to consider other market factors and your risk tolerance before making investment decisions.
Long
by MarsSignals
DYDX - Make or breakI've been suggesting further upside on BYBIT:DYDXUSDT.P and for alts in general for a long time, but dydx has been one of assets I traded best, feel free to check the charts below for how HTF ideas played out since march/january. At the moment it's approaching to a big resistance area I highlighted before and already looks like a deviation of the range (at least at the time of this analysis) even before clearing some of those OBs. It still makes more sense to me for another push up into 2.59-2.78 before a 20-30% pullback. Unlike almost every market participant right now, some charts (including dydx) makes me think it may not be a good idea to buy those pullbacks - but the analysis has been spot on so far, so if it looks ready for a bounce, I'll take that long.
Long
by cryptokebab
Dydx main targetsBINANCE:DYDXUSDT Visualisation for DYDX potential targets before or after unlocks in December Possible Targets and explanation idea ➡️Over 500 days in -0.27 accumulation zone. ➡️Based on ADZ indicator whales mostly accumulated in red zone ➡️Only 1 M gap will be like a trigger for algorithm deliver the price to this target ➡️Before 15% unlocks in December we can see hype around DYDX chain ➡️Testnet will end soon and its will be also trigger for uptrend ➡️2B market cap with current supply more than real, 17$ main target Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. --- • Look at my ideas about interesting altcoins in the related section down below ↓ • For more ideas please hit "Like" and "Follow"!
Long
by Crypto4light
2
DYDX - We're in the endgame now.... (Weekly & Daily TimeFrames) On The Weekly , DYDX officially in the middle of an extremely coiled up volatility squeeze. Looks like we'll have a breakout signal direction showing up soon. Consistently Rejected the upper-bound $2.26 range on the Weekly Time Frame. - 🟧 Volatility Squeeze Channel . (Gold Shaded Area) - ♦️ Red Diamonds - 📈 Red Trend-line - Yet we have a diminishing of negative volatility momentum . Looks like a retest of $1.65, the absolute lower bound of the range is in play. On the Daily we're seeing - 📈 Consistent rejections right on the red-trackline . - ♦️ Red Diamonds - 🔶 Failed Golden Diamond momentum reversals. These indicators behind the scenes perform the work of hundreds. So we're seeing negative confluence littered across an entire spectrum of categories for this asset. That being said, DYDX is still a global leading behemoth in the DEFI Perpetual space. With no slowing down. The downside we're seeing could be an opportunity for those where this fits into their portfolios appetite.
by Trinium-Labs
DYDX - We're in the endgame now.... (Weekly & Daily TimeFrames) On The Weekly , DYDX officially in the middle of an extremely coiled up volatility squeeze. Looks like we'll have a breakout signal direction showing up soon. Consistently Rejected the upper-bound $2.26 range on the Weekly Time Frame. - 🟧 Volatility Squeeze Channel . (Gold Shaded Area) - ♦️ Red Diamonds - 📈 Red Trend-line - Yet we have a diminishing of negative volatility momentum . Looks like a retest of $1.65, the absolute lower bound of the range is in play. On the Daily we're seeing - 📈 Consistent rejections right on the red-trackline . - ♦️ Red Diamonds - 🔶 Failed Golden Diamond momentum reversals. These indicators behind the scenes perform the work of hundreds. So we're seeing negative confluence littered across an entire spectrum of categories for this asset. That being said, DYDX is still a global leading behemoth in the DEFI Perpetual space. With no slowing down. The downside we're seeing could be an opportunity for those where this fits into their portfolios appetite.
by Trinium-Labs
dYdX / US Dollar (DYDXUSDT) Token Analysis 11/09/2023Fundamental Analysis: DYDX (dYdX) is the governance token associated with the layer 2 protocol of the decentralized cryptocurrency exchange that shares its name. This token plays a crucial role in facilitating the operation of the layer 2 protocol and empowers traders, liquidity providers, and partners to actively participate in shaping the protocol's future as part of the community. Token holders enjoy various privileges, including the ability to propose changes to the dYdX layer 2 protocol. They also have opportunities for profit through activities such as token staking and trading fee discounts. Leveraging the StarkEx scalability engine from Starkware, the layer 2 solution on dYdX is specifically tailored for cross-margined perpetual trading. This scaling solution enhances transaction speed, eliminates gas costs, reduces trading fees, and lowers minimum trade sizes on the platform. As an open-source platform with smart contract capabilities, dYdX serves as a versatile ecosystem for users to engage in lending, borrowing, and trading various crypto assets. While the platform does support spot trading, its primary focus lies in derivatives and margin trading. Founded in 2017, dYdX secured over $10 million in seed venture capitalist funding and officially launched in 2019. The DXDY token's initial coin offering (ICO) took place on September 9th, 2021. dYdX stands as a cryptocurrency exchange that melds advanced financial tools with the principles of decentralization. The platform offers support for margin trading, a financial product that empowers investors to amplify their exposure to digital assets through leverage. dYdX offers two distinct margin trading options: isolated margin, allowing users to allocate specific funds for a trade, and cross-margin, which utilizes all assets held by a trader on the platform. Additionally, dYdX facilitates the trading of perpetuals, a type of futures contract without a predetermined expiry date. The exchange provides a maximum leverage of 25x on synthetic assets that have no expiration date. When users deposit funds into their dYdX accounts, they immediately begin earning interest, as their assets become part of a global lending pool dedicated to each cryptocurrency. dYdX ensures the security of lenders by requiring borrowers to maintain sufficient collateral in their accounts at all times. Borrowing on dYdX enables users to swiftly acquire any available asset on the platform by using their existing funds as collateral for the loan. Unlike automated market makers such as Uniswap, dYdX employs an order book architecture. dYdX's Layer 2 solution enhances network scalability by implementing zero-knowledge rollup technology, specifically zkSTARKS. This technology generates proofs while validating a batch of transactions off-chain. These proofs are then transmitted back to the blockchain, where they are verified by a smart contract. zkSTARKS allows for the offloading of resource-intensive computations from the mainnet without compromising decentralization. In addition to trading and liquidity provider rewards, dYdX introduces retroactive mining benefits, demonstrating gratitude to historical users and encouraging their continued participation on the Layer 2 protocol. Token holders can stake their assets in dYdX's safety and liquidity pools. The safety pool serves as a safeguard in case of a shortfall event, while the liquidity pool aims to attract high-quality market makers to the platform. DYDX is an ERC-20 token that has been deployed on the Ethereum mainnet. The layer 2 scaling solution utilized by dYdX is constructed on Starkware's ZK-STARKS technology, leveraging the Ethereum blockchain to validate transaction proofs. The DYDX token was initially made available for purchase in September 2021. Antonio Juliano, a seasoned programmer with a strong background in blockchain technology, serves as the Founder and CEO of dYdX. His foray into the cryptocurrency realm began in 2015 when he secured a position as a software engineer at Coinbase, a prominent cryptocurrency exchange platform. Holding a computer science degree from Princeton University, Antonio Juliano embarked on his entrepreneurial journey and established dYdX in early 2017. Zhuoxun Yin assumes the role of Head of Operations at dYdX. His prior experience includes positions at Nimble, a social sales and marketing CRM, and Bain & Company, a renowned consulting service. Zhuoxun Yin pursued his education at the University of Queensland, where he earned a bachelor's degree in commerce. Technical Analysis: We have applied Fibonacci retracement tools, extending from $0 to its all-time high (ATH) of $27.9. Within this analysis, we have identified potential support and resistance areas on the chart based on the retracement levels. In addition to the retracement levels, we have utilized Fibonacci projection tools to delineate additional potential support areas below the previous all-time low price. This projection is based on the most recent market cycle. Consequently, we have established three potential support levels at $1.4 or 95% and $1 Defined by Price Action and $0.5 defined by Projection of the past cycle. Furthermore, we have outlined three potential price targets using the Fibonacci retracement levels from the ATH cycle. These targets are anticipated within the next few weeks to months and are as follows: First Target Price (1 TP): $4.15 Second Target Price (2 TP): $6 Third Target Price (3 TP): $10.5 These levels serve as key reference points for our analysis, guiding our expectations for future price movements. Sentiment Analysis: Considering the possibility of depreciation in the total market capitalization of cryptocurrencies and the price of Bitcoin (BTC) in the upcoming months, it is reasonable to consider employing a Dollar Cost Averaging (DCA) strategy for long positions at the specified support levels.
Long
by BitonGroup
DYDX/USDT Bullish Momentum?? 💎🚀 DYDX Today Analysis💎 Currently, DYDX is navigating within a descending channel pattern and is making an attempt to breach the supply zone. If it struggles to surpass this zone, we might see DYDX retreat to the demand area between 1.63 - 1.74, aiming to tap into the order block situated there. This could set the stage for a potential rebound and a subsequent upward trajectory. 💎However, if DYDX manages to break through the supply zone promptly, it's a positive indicator. Yet, for a confirmed bullish momentum, DYDX needs to shatter the resistance trendline of the descending channel. Achieving this could pave the way for a spirited rally, targeting the 2.755 - 3.15 range. 💎Conversely, should DYDX falter within the 1.63 - 1.74 demand zone or even dip below it, it suggests the possibility of a deeper decline, crafting a new lower low. Paradisers, stay vigilant and monitor these potential shifts! 🌴
by MyCryptoParadise_Nathan
DYDX Cup & Handle needs break for Long!KUCOIN:DYDXUSDT BINANCE:DYDXUSDT has crawled over a resistance level. Buyers are lurking around and a possible build up is printed. Plan A - Long: Breakout of build up. Plan B - Short: Breakdown of buildup. CRYPTOCAP:BTC - at major level that needs to break and hold for upside, otherwise downside. CRYPTOCAP:BTC - idea here: tinyurl.com or here: tinyurl.com If you're an aggressive trader, you could potentially already be in. Consolidation is boring but buildups are secrets for pre-moves. Nothing guaranteed and that is why we always manage risk. Let's get it! Always having Plan A and Plan B scenarios so we can react once the markets provide an opportunity to execute our edge. If you liked this idea or if you have your own opinion about it, write in the comments. The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. www.tradingview.com
Long
by imr4nkh8n
DYDXUSDT DAILY : GOOD situation (spot)Hi Guys hope you well, After a good climb and an correction in the price, we are slowly approaching the good demand area. We have two scenarios ahead. I expect that we will first go up and then enter the golden demand zone in the daily time. SecondChanceCrypto ⏰13/May/23 ⛔️(DYOR) always do your research. If you have any questions, you can write them in the comments below, and I will answer them. And please don't forget to support this idea with your likes and comment.
Long
by Secondchancecrypto
2
DYDX/USDT - bullish pennant with 2-3x potentialDYDX/USDT is showing a very promising bullish setup which will likely break out soon. In this setup we can see a bullish pennant which is shaped like an inverted head and shoulders pattern that's near completion, successful retests of the previous downtrends and price sitting above the previous 2.50 resistance. I really like the look of this setup and expect to see high double digit % returns and potentially even a 2-3x depending on the momentum of the breakout. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ - Buy zone: current price range, anywhere near the tip of the pennant or if you prefer a safer approach buy the breakout - Targets are marked in the chart In case of a pattern failure look for support on the dashed trend lines for a potential re-entry. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ I will try to keep this idea updated as the chart develops. Best of luck and let me know what you think!
Long
by Wolfy_
Is DYDX/USDt 650% Potential as per Chart?$DYDX DYDX/USDT Technical Analysis:- = The technical analysis indicates that $DYDX is looking good at its current level, with a strong neck line resistance already broken and a retest of the support level. = The strong resistance level has now become a strong support level, indicating bullish momentum. As per the chart, we are expecting $DYDX to hit our resistance levels at $6.30, / $9.40, and $14.50. This translates to a potential 650% gain from the retest/support level! = As always, this is not financial advice, and we urge you to conduct your own research before investing in any coins. Thank you, and happy trading!
Long
by CryptoPatel
2