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DYDX / TetherUS

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DYDXUSDT trade ideas

DYDX may continue to rise according to the cup handle structure🧠As we mentioned in the previous post, our pullback may be over and we are in the middle of a rally driven by the bottom double bottom long structure. In the 15m chart, we have successfully broken through an important inflection point to form a cup handle bullish structure, so the rally with the long structure as support should be very efficient. ⚠️Note that this bullish view will be invalidated if our long defensive point is broken.❌ Let's see👀 🤜If you like my analysis, please like 💖and share it💬 💕 Follow me so you don't miss out on any signals and analyze 💯
Long
by wolf_king888
📊#DYDX may continue to fall based on the rising wedge pattern📉➡️After we rose based on the bottom double bottom structure, all the goals of the small long structure have been achieved, so the current callback is very reasonable. Given that there is still a large bullish structure, we will still be bullish in the big cycle.📈 🧠But for small cycles, we are in a short structure, making a healthy correction, and forming a rising wedge model during the correction (generally we fall according to this model). At the same time, I am also very much looking forward to the arrival of this decline, because when we pull back to the buy zone, the best buying opportunities will appear.💯✔️ ⚠️Note that if we continue to rise and break through the short defense point, it means that the short structure is destroyed, which means that we will continue to continue the bull power.💪 Let's see👀 🤜If you like my analysis, please like 💖and share it💬 💕 Follow me so you don't miss out on any signals and analyze 💯
Short
by wolf_king888
2
dYdX's (DYDX) Buying Momentum DecreasingdYdX (DYDX) DYDX has surged more than 200% over the first three weeks of November. This growth is primarily linked to the cryptocurrency project's recent launch of its own blockchain, which increased the visibility of the dYdX exchange and boosted the demand for its token. At present, DYDX is trading between a support zone of $2.80-$3.15 and a resistance range of $3.50-$3.75. A slightly higher seller's zone is observed at $4.00-$4.35. Testing this higher range is seen as the next step in maintaining the upward trend. Nevertheless, the likelihood of reaching a new yearly high seems uncertain due to the gradual waning of the buying momentum. In the event of a correction, DYDX could potentially fall back to support levels of $2.15-$2.40 and $1.8-$2.0. It's also crucial to consider fundamental factors, such as the significant unlocking of DYDX coins that took place at the beginning of November. In a scenario where the price drops, the market might witness a substantial sell-off of coins, which could further negatively affect the asset's price.
by DEXWireNews
DYDX showing clear indicationDYDX had formed a head and shoulder pattern with a left side slanting neckline. Normally this pattern indicates a downward trend. What is there to watch with DYDX and its pattern is that it sometimes might not continue downward with the Head and Shoulder pattern if you watch the fundamentals around this. Also the left shoulder more or less remain flat. The upcoming events and the release of new tokens could bring a hype which ca take DYDX to new heights. Ultimately on an economic aspect, more supply should bring in lesser demand and lower price. There is also to watch out the strong support levels. Support 1 which is backed by Fib and left shoulder line. Also the Support 2 which remains super strong. On a conclusive note, DYDX could turn negative up to 2.9 levels and could bounce back. This is not a financial advice. DYOR.
Long
by ajmalanwar