DYDX Price Target Revealed! August 9th DYDX Analysis

  • DYDX price intends to continue its upward trend as long as it stays above $2.
  • In order to surpass the $2.31 resistance, it should first secure closings above $2.18.
  • Investors should monitor the breakthrough of the $2.16 resistance and the achievement of the $2.50 target, especially those who invested at the $1.895 level can adjust their strategies accordingly.

DYDX’s current technical analysis indicates a period where price movements are closely monitored. The movements at the specified levels offer significant opportunities for investors and also provide clues about the direction of the price. Considering that the analysis is consistent with previous dated data, it can be seen that DYDX has provided investors with more than 12% profit.

Medium-Term DYDX Analysis

Daily DYDX/USD Price Chart
Daily DYDX/USD Price Chart

When examining DYDX’s current technical analysis, it can be seen that the price movements have continued as stated in the analysis shared on July 25th and have provided readers with a return of more than 12% so far.

Click here to review the 12% Profitable DYDX Analysis We Shared on July 25th.

If DYDX price can achieve solid candlestick closings above the $2.16 level, it can first move the uptrend to the $2.27 level and then to the $2.50 levels. However, if DYDX price cannot surpass the resistance at $2.16, it may continue the downward trend until the support at $1.98, marked as the blue line.

Our readers who invested at the previously mentioned $1.895 level should carefully monitor these areas and evaluate their profit-taking strategies based on the movements in DYDX price, considering re-entry depending on the $1.984 level.

When focusing on the daily technical chart, it can be observed that DYDX price has the intention to carry the uptrend to the $2.50 levels as long as it encounters strong buying demands from the support range of $1.895 – $1.812.

Short-Term DYDX Analysis

4 Hourly DYDX/USD Price Chart
4 Hourly DYDX/USD Price Chart

When examining DYDX’s 4-hour technical analysis, it can be seen that the price movements have progressed as specified. DYDX price intends to maintain the uptrend as long as it stays above the $2 level.

However, in order for DYDX to surpass the $2.31 resistance, it needs to pass the $2.18 resistance with 4-hour candlestick closings as the first step. If the $2.18 resistance can be surpassed, the first target could be $2.24 and then it can aim to move towards the $2.31 level.

If DYDX price cannot break the $2.18 resistance, it may continue the downward movement until the $2 level. If the price achieves candlestick closings below $2 on a 4-hour basis, further decline towards the $1.98 levels may be observed.

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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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