Crypto Sat

$DYDX Daily Chart Breakdown

Price is still under heavy pressure, with price sitting at $0.563 after failing to reclaim key moving averages.

🔎 TECHNICAL ANALYSIS :

🔻 Price peaked at $1.48 in March, now down over 60%

💔 Still trading below the 200MA ($0.993) — long-term bearish structure

🟣 99MA ($0.63) and 💗 25MA ($0.632) acting as dynamic resistance

🔄 Local support near $0.49 — break below could trigger another leg down

Momentum is weak, and every bounce is being sold into — classic signs of a distribution phase.

🌎 Macroeconomic Pressures:

📉 Risk-off sentiment as U.S. job market shows signs of cooling

🤑 Traders are rotating back into USD and US Treasuries as yields tick up

💡 Crypto liquidity is thinning, and speculative DeFi tokens like #DYDX are feeling the brunt

On top of that, token unlocks and poor tokenomics are adding sell pressure.

📌 What to Watch:

If DYDX can't hold above $0.55–$0.49, expect a deeper breakdown

A bullish reversal requires a daily close above $0.63, reclaiming the 25/99 MA zone

For now, trend remains bearish — this is a wait-and-see zone, not a chase

📉 #DYDX is still trapped in a macro downtrend. Until structure changes or broader sentiment shifts, caution is key.