DYDX Coin Price Prediction! Can it Start Rising to $3?

  • DYDX is moving above $2 in its short-term technical chart, and this level plays an important role as support.
  • The range of resistance between $2.12 – $2.15 is a critical area that limits the price’s rise, and strong selling pressure here can cause a decline.
  • If DYDX receives a strong buying response above the $1.948 level, it can increase the potential to start an upward trend.

DYDX attracts investors’ attention with its support and resistance levels in its technical chart. While movement above $2 is observed as an important factor for the continuation of the rise, the resistance range of $2.12 – $2.15 stands out as a critical area that determines the direction of the price. Investors should closely monitor how the price reacts to these specified levels.

Medium-Term DYDX Price Analysis

Daily DYDX/USD Price Chart

When examining the daily technical chart of DYDX, it is observed that the price is moving near the important support level of $1.895. If the DYDX price experiences a decline to the mentioned support range of $1.895 – $1.812 in the analysis and encounters strong buying responses from these levels, it can initiate its rise.

If the DYDX price encounters strong buying responses from the support range of $1.895 – $1.812, it can continue its upward trend from this support area, first targeting the $2.27 resistance and then the $2.50 resistance levels. Therefore, DYDX investors should carefully monitor the daily support and resistance levels mentioned in the analysis.

On the other hand, if the DYDX price closes daily below the $1.81 level, it can extend its downward movement to the $1.714 levels. Similarly, if it closes daily below the $1.714 level, it can continue its decline to the $1.525 levels.

However, if DYDX achieves a daily closing above the $1.714 level, there is a possibility of starting an upward trend. Investors should determine their trading strategies based on these critical support and resistance levels.

Short-Term DYDX Price Analysis

2-Hourly DYDX/USD Price Chart
2-Hourly DYDX/USD Price Chart

When examining the short-term technical chart of DYDX, it is observed that the price continues to move above the important support level of $2. As long as the DYDX price stays above the $2 support, it can sustain its rise up to the resistance range of $2.12 – $2.15 mentioned in the analysis.

However, if the DYDX price encounters strong selling pressure from the range of $2.12 – $2.15, it can initiate its downward movement from this area, first targeting the $2 level and then the $1.948 levels.

On the other hand, if DYDX closes 2-hourly below the $1.948 level, it is expected to continue its decline towards the $1.91 support. However, if the DYDX price encounters strong buying responses from the $1.91 – $1.87 range, it can continue its rise from this area up to the $2.31 levels.

If the DYDX price receives a strong buying response from the $1.948 support, there is a possibility of initiating its rise from this support level. However, it needs to achieve a 2-hourly closing above the $2 level, which is the resistance, with a strong buying response from the $1.948 level. Investors should carefully monitor these specified support and resistance levels and create their trading strategies accordingly.

BREAKING NEWS

Bitcoin OG Whale Owen Gunden Deposits 2,587.6 BTC to Kraken Worth $290 Million Over 10 Days

According to COINOTAG News and corroborated by LookIntoBitcoin monitoring,...

Bitcoin Sentiment Slumps to New Lows Among Asian Crypto-Native Investors, Echoing 2022 Downturn

COINOTAG News, October 30, cited remarks from DeFiance Capital...

Bitcoin Whale With 14-Game Win Streak Sees $7 Million Loss Amid Market Dip on BTC, ETH, and SOL Longs

COINOTAG News, citing HyperInsight, notes a risk-averse turn in...

Wallet 0xdd2 Withdraws 281 Billion PEPE Tokens (~$2.03M) From Binance

On-chain activity tracked on October 30 by The Data...

Bitcoin Volatility Surges After Fed’s 25 bps Rate Cut as DeepSeek AI Stays Long with 80%+ ROI While Others Hit Stops

According to COINOTAG News and CoinBob's on-chain AI analysis,...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img