- If the DYDX price cannot close above $2.24, it may show a downward trend towards the support range of $2.127 – $2.09.
- If the price receives buying reactions from the support range of $2.127 – $2.09, it can target the levels of $2.20 and $2.34.
- If the DYDX price surpasses the $2.27 resistance, it can move its upward trend towards $2.495 and subsequently $3.
If the DYDX price cannot close above $2.24, the downward trend towards the support range of $2.127 – $2.09 may expand. If buying reactions come from the support range of $2.127 – $2.09, the upward movement can continue until the target of $2.20 and then $2.34.
Medium-Term DYDX Analysis
Daily DYDX/USD Price ChartWhen the current technical chart of DYDX is examined, the movements that occurred in line with the analysis shared on August 9th can be seen. The price has increased to the $2.27 resistance level, providing a return of 20% as predicted in the previous analysis.
However, after the $2.27 resistance level, the DYDX price faced selling pressure and dropped to the $2.21 level. If DYDX successfully surpasses the $2.27 resistance on a daily basis, it can aim to continue its upward movement towards the $2.495 level.
However, if it fails to surpass the $2.27 level, the price can expand the downward trend towards the $2.084 support. If DYDX receives strong buying reactions from the $2.084 level, it can resume its upward movement and target the $2.495 level. If the price closes daily above this level, the next target could be the $3 level.
Short-Term DYDX Analysis
When the current technical chart of DYDX is examined, a downward trend can be observed in the last 4-hour candle movements. If the price cannot close above $2.24 on a 4-hour basis, it can expand the downward trend towards the support range of $2.127 – $2.09 as indicated in the analysis.
If the DYDX price receives strong buying reactions from the support range of $2.127 – $2.09, it can initiate its upward movement from these critical support levels and target the $2.20 level first, followed by the $2.34 level.
However, if the DYDX price closes below the $2.08 level on a 4-hour basis, it can expand the downward trend towards the support level located at $2.02.
