Resistance

dYdX (ethDYDX)

Rise

Time

<ul class="list-ic vertical">
 <li><span>1</span> <a>The price has taken support and started to make higher highs which has risen 4.07% in the last intraday session.</a></li>
 <li><span>2</span> <a>The Short liquidation has increased tremendously against the long.</a></li>
</ul>
<p>DYDX (dYdX) is the token that powers the layer 2 protocol of the decentralized exchange with the same name. It lets the users trade, provide liquidity, and participate in the governance of the protocol without intermediaries. It also enables the community to shape the future of the protocol together.</p>
<p>DYDX crypto surged by 4.16% in market value and by 4.92% in trading volume in the last 24 hours, as per CoinMarketCap, which is a crypto data and info website. Its market value is $429,835,662 and its trading volume is $42,382,651. There are 16,328,269 DYDX in circulation.</p>
<h2 class="wp-block-heading" id="strong-will-dydx-break-above-the-trendline-strong"><strong>Will DYDX Break Above The Trendline?</strong></h2>
<p>The DYDX price has been on a downward and bearish trend for the past three and six months, dropping by 0.73% and 20.42%, respectively. This indicates that the investors might have low confidence and interest in the dYdX crypto.</p>
<p>However, in the last week, the price has ascended by 11.88% and if it maintains this momentum, it might overcome the trendline and offer investors the reward they seek in crypto. Also this month, the chart has shown some positivity with a 7.31% increase.</p>
<p>The technical analysis indicates that the dYdX price is facing a bearish trendline and may drop to new support levels of $1.8 and $1.5 if the bulls lose strength and fail to hold the current level.</p>
<p>On the other hand, DYDX price has a chance to rise only if it can break the previous resistance levels of $2.2 and $2.5 and also if it can stabilize and surpass the previous high.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1564" height="836" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-659.png" alt="dYdX 2023: Has Good Time Came To Invest, Will DYDX Rise Soon?" class="wp-image-177731" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-659.png 1564w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-659-300x160.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-659-1024x547.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-659-768x411.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-659-1536x821.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-659-750x401.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-659-1140x609.png 1140w" sizes="(max-width: 1564px) 100vw, 1564px">
  <figcaption class="wp-element-caption">
   Source: DYDX/USD.1D.BINANCE by TradingView
  </figcaption>
 </figure>
</div>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1563" height="835" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-660.png" alt="dYdX 2023: Has Good Time Came To Invest, Will DYDX Rise Soon?" class="wp-image-177732" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-660.png 1563w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-660-300x160.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-660-1024x547.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-660-768x410.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-660-1536x821.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-660-750x401.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-660-1140x609.png 1140w" sizes="(max-width: 1563px) 100vw, 1563px">
  <figcaption class="wp-element-caption">
   Source: DYDX/USD.1D.BINANCE by TradingView
  </figcaption>
 </figure>
</div>
<p>At the time of publishing, dYdX (DYDX) is trading above the 20 and 50-day EMAs (exponential moving averages), indicating a bullish trend.&nbsp;The MACD line at 0.0009 and the signal line at 0.02014 are below the zero line; but they have crossed each other, signaling a potential reversal and a bullish crossover.</p>
<p>The current value of the RSI is 62.03 points and the 14-day SMA is below the median line at 45.68 points, and took support from 14 SMA, showing strong buying pressure.&nbsp;</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p><a href="https://www.thecoinrepublic.com/2023/10/21/fisker-inc-fsr-stock-price-lost-momentum-will-it-retest-5/" target="_blank" rel="noopener noreferrer nofollow">DYDX</a> is showing a positive trend at the time of publishing. The technical indicators of the DYDX price are pointing to more upside potential, as long as it can break above the trendline resistance, on the daily chart.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support levels: </strong>$1.8 and $1.5</li>
 <li><strong>Resistance levels: </strong>$2.2 and $2.5</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

dYdX 2023: Has Good Time Came To Invest, Will DYDX Rise Soon?

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