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<p>Decentralized trading protocol dYdX (DYDX) rallied over 25% today after a whale was spotted accumulating the token. The price jump comes as analysts identify key levels that could see DYDX surge up to 100% from current levels around $3.90.</p>
<h2 class="wp-block-heading" id="whale-buying-boosts-price">Whale Buying Boosts Price</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="475" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-357-1024x475.png" alt="" class="wp-image-377300" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-357-1024x475.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-357-300x139.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-357-767x356.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-357-1536x713.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-357-2048x951.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-357-323x150.png 323w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-357-100x46.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-357-754x350.png 754w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-357-788x365.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-357.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>According to <a href="https://twitter.com/lookonchain/status/1724685957130264819?t=JuOgkrV1YtHh0CwDOPWvmA&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">on-chain analyst Lookonchain</a>, a whale recently deposited 1 million DYDX worth around $4 million to Kraken exchange. The whale is currently holding 1.03 million DYDX now worth over $4 million after today’s 30% spike.</p>
<p>Had the whale sold at the top today, it could have realized approximately $1.5 million in profits. Instead, the large accumulation signals confidence in major upside ahead.</p>
<h2 class="wp-block-heading" id="trading-levels-to-watch">Trading Levels to Watch</h2>
<p>With DYDX surging on whale buying,<a href="https://twitter.com/valeriyaApex/status/1724748708732973483" target="_blank" rel="noopener noreferrer nofollow"> trader Valeriya</a> outlined key levels to watch going forward. Valeriya notes DYDX made a clear ascending move off the recent lows.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="768" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-358-1024x768.png" alt="" class="wp-image-377318" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-358-1024x768.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-358-300x225.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-358-768x576.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-358-1536x1152.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-358-2048x1536.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-358-200x150.png 200w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-358-100x75.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-358-467x350.png 467w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-358-788x591.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-358.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>The first target is the overhead resistance zone around $5.50 to $7. This lines up with the OB/BTS level, so Valeriya suggests looking to take profits on longs there after a confirmation.</p>
<p>On any retracement back to the $2.60 to $3 demand zone, Valeriya sees an optimal area to enter fresh long positions before the next leg up.</p>
<h2 class="wp-block-heading" id="why-a-100-move-is-possible">Why a 100% Move is Possible</h2>
<p>Valeriya’s analysis shows DYDX doubling from current levels to the $5.50-$7.00 resistance area. But a move above that could open the door for a further rally.</p>
<p>With whales aggressively buying, DYDX has the fundamentals to power through overhead levels. If it flips resistance to support upon a retest, the technical alignment is there for a surge up to $10 or more.</p>
<h2 class="wp-block-heading" id="momentum-building">Momentum Building</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="455" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-359-1024x455.png" alt="" class="wp-image-377327" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-359-1024x455.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-359-300x133.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-359-767x341.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-359-1536x683.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-359-2048x910.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-359-338x150.png 338w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-359-100x44.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-359-788x350.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-359.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Analyst <a href="https://twitter.com/cryptoknight890/status/1724736939738427507" target="_blank" rel="noopener noreferrer nofollow">Crypto Knight</a> also weighed in, suggesting traders buy DYDX on any dips to <em>“sell higher.” </em>Sentiment appears to be growing increasingly bullish on DYDX following today’s breakout.</p>
<p>If DYDX sees a retest of support and holds above $3, Valeriya’s analysis indicates the price could double with his chart showing a possible rise to around $10. With whales loading up, the technicals and fundamentals align for substantial upside from current levels.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/top-analyst-identifies-a-red-flag-in-bitcoin-btc-on-chain-indicators/" target="_blank" rel="noopener noreferrer nofollow">Top Analyst Identifies a “Red Flag” in Bitcoin (BTC) On-Chain Indicators</a></li>
 <li><a href="https://captainaltcoin.com/bearish-market-drags-down-bitcoin-and-ethereum-while-this-altcoin-shines/" target="_blank" rel="noopener noreferrer nofollow">Bearish Market Drags Down Bitcoin and Ethereum While This Altcoin Shines</a></li>
 <li><a href="https://captainaltcoin.com/investor-alert-cardano-ada-and-meme-moguls-mgls-surge-amidst-market-volatility/" target="_blank" rel="noopener noreferrer nofollow">Investor Alert: Cardano (ADA) and Meme Moguls (MGLS) Surge Amidst Market Volatility!</a></li>
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<p>The confluence of bullish technicals and on-chain activity points to DYDX’s price potentially tripling from where it trades currently. The whales seem to be positioning for major upside, and analysts believe a 100% move is within reach.</p>
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<p>The post <a href="https://captainaltcoin.com/dydx-surges-over-25-as-whale-accumulation-increases-why-price-could-see-a-100-pump/" rel="noopener noreferrer nofollow">DYDX Surges Over 25% as Whale Accumulation Increases: Why Price Could See a 100% Pump</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

DYDX Surges Over 25% as Whale Accumulation Increases: Why Price Could See a 100% Pump

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