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DYDXUSDT

DYDX 6h Why it's growingToday we are going to look at something new and hot, namely DYDXUSDT trading pair. But let you write in comments what is the value of DYDX token and why its price is growing so much, and we will write possible scenarios. To begin with, there are only about 6% of DYDX coins in circulation right now of the maximum allowed amount. The law of supply/demand tells us that increasing the coins in circulation will increase their supply in the market, and consequently there will be more pressure on the price. For ourselves, we have identified the $29.50-30.50 price zone as the critical zone for growth. The way to reach it may be as from the current price (because for several previous days the DYDXUSD price is moving up against the BTCUSD correction), or through a correction to the area of $19 . The second option would be more comfortable for us, because then you can enter the position with acceptable risks for the trade, now the price is too high, and the adequate stop is too far away. If the price of DYDXUSDT fixes under $19 , it will not be good for those who bought on the rise and has a long position, because the first stop of the fall in such a scenario is seen no earlier than $11.50. A more global forecast that you are used to reading here from us, it is difficult to write about this pair, because the trading history is very short. But if this idea will be interesting for you and will get a big amount of comments and likes , we will write reviews about it with a certain periodicity. _____________________ Since 2016 , we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer — help us to be happier :)
by P_S_trade
52
DYDX showing weaknessopening dydx longs at this point is very risky , as you can it has 3 high volume zones in VPVR. now top zone buyers are underwater ready to get rid of them for breakeven. when DYDX break 20$ downside it will slowly flush them to next zone where more sell pressure. open small DYDX shorts with nice SL and check critical retests is a nice option for now. have a eye on double top and head n shoulders for nice short openings as you know DYDX have more volume than coinbase , be careful if super pump. (NFA)
Short
by oxd0x
Watch DYDX breakout in short termDYDX is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol. By enabling shared control of the protocol, DYDX allows traders, liquidity providers, and partners of dYdX to work collectively towards an enhanced Protocol. DYDX enables a robust ecosystem around governance, rewards, and staking — each designed to drive future growth and decentralization of dYdX, resulting in a better experience for users. According to me analysis dydx is performing W pattern and about to brake resistance in 4hr time frame. My short term target is $ 35. Thank You ! #DoYourOwnResearch# #IamNotaFinancialAdvisor#
by iamdinusha
DYDX/USDTShort , Over bought , SL : 18.6 $ ...................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Short
by Crypto-IR
9
DYDX & PERP - Narrative and fundamentalsAll over the world we have regulators attacking crypto. Slowly, but surely... More and more exchanges having mandatory KYC , shutting down derivative products for certain countries, closing down registrations and trading for certain countries, as well as having issues maintaining and launching new products. China has essentially completed and finalized its crackdown, but US is coming next and will probably go after certain exchanges like Binance the same way they went after Bitmex (big fines and prison time). Crypto is going against the state's interests and this was to be expected. That's why DeFi is so big and why decentralization really matters. Currently there are two major tokens related to 2 perpetual swap protocols which have been growing for some time. DYDX is the first one and launched its token fairly recently, while PERP is the other one and has been out there for some time. DYDX is at about 900M and PERP at about 800M, however DYDX is looking a lot better for many reasons. First of all DYDX has a much cleaner chart and is a much younger coin. It's making new highs vs BTC and is near ATHs vs USD, while PERP is looking more heavy. Now for this there are some fundamental reasons as to why things look that way, and that's because DYDX just over the last week has had 11x higher revenue compared to PERP. DYDX also has a few more listings and is a bit more liquid, so currently either DYDX is undervalued or PERP overvalued. In my opinion based on PERP's chart I think it could grow more and I don't think its valuation is that extreme. There is potential for both of them to grow as people might want to have a backup in case something happens to one of them. Both have had some major upgrades recently and have been doing pretty well, and in my opinion could continue to grow rapidly as Ethereum's scaling technologies could grow really fast as well. However the key takeaway here based on the current set of circumstances + the rapid growth + the relative valuations based on the current revenue, is that DYDX is undervalued and its price could appreciate a lot. Finally I'd just like to point out that there are big risks for both of those. On chain derivatives trading isn't simple and we all know how easy it is for a DeFi protocol to get hacked... So be careful with the amount of money you put in either of those and remember that there are no certainties here.
Long
by BitcoinMacro
1