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DYDX Price Analysis: Could Rise by 20% if Critical Resistance is Broken!

  • DYDX should focus on buying reactions coming from the support range between 2.012 dollars and 1.98 dollars.
  • In the daily chart, the 2.287 dollar resistance is a critical level; three consecutive daily closes above it can support the uptrend.
  • The 2 dollar level stands out as the nearest support and the price staying above this level can be considered as a positive signal.

In the daily technical chart of DYDX, it is observed that the price is approaching the 2.287 dollar resistance. If three consecutive daily closes occur above this resistance, the long-lasting sideways trend may end. In this case, DYDX can move towards the 2.728 dollar resistance.

Medium-Term DYDX Price Analysis

2-Day DYDX/USD Price Chart
2-Day DYDX/USD Price Chart

When examining the daily technical chart of DYDX, it is seen that the price is moving close to the 2.287 dollar resistance. If DYDX achieves three consecutive daily candle closes above the 2.287 dollar level, it may end the long-lasting sideways trend.

If the DYDX price achieves three consecutive daily closes above the 2.287 dollar level, the next critical resistance level of 2.728 dollars can be targeted. Additionally, if DYDX closes above 2.29 dollars, it may have a potential increase of more than 20%.

However, if the DYDX price fails to surpass the 2.287 dollar resistance, the downward trend may continue towards the daily support zone at 1.80 dollars. The nearest support zone is located at the 2 dollar level. As long as DYDX stays above 2 dollars, it may have a chance to break the 2.28 dollar resistance.

Short-Term DYDX Price Analysis

4-Hour DYDX/USD Price Chart
4-Hour DYDX/USD Price Chart

When examining the 4-hour technical chart of DYDX, it is observed that the downward movement continues. If the DYDX price experiences a drop from the support range between 2.012 dollars and 1.98 dollars, it is seen that strong buying reactions from this range are of great importance.

If the DYDX price receives strong buying reactions from the support range between 2.012 dollars and 1.98 dollars, it can aim to initiate an upward movement towards the 2.27 dollar level. However, if DYDX makes 4-hour closes below 1.98 dollars, it may extend its decline towards the 1.95 dollar level.

If the DYDX price makes closes below 1.95 dollars, the downward trend can continue towards the 4-hour support level indicated in red at 1.89 dollars. Another important support for DYDX is located at the 1.83 dollar level.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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