DYDX / TetherUSLong
Brief Analysis ——DYDX
Today, we bring a brief analysis of two more popular tokens. They are TRX and DYDX.
From June 2022, DYDX will maintain in a stable range. Although the price rose above the upper rail of the range in early 2023, it soon fell back into the range. DYDX remains neutral on a large scale. Recently, the volatility of DYDX has decreased. The price remains fluctuating within the previous accumulation zone (yellow zone). Since mid-July, the price has been hovering on the upper rail of the yellow area. You can see that there are many candles with upward pin-bars. But the bears have not strengthened, keeping the price in the yellow zone.
Conclusion: The high probability rise has not ended. We think it is difficult for the rise to end at this position. It should be noted that if today's red candle finally covers last green candle, the possibility of fluctuation will be increased, but this can only be confirmed when the market closes. We set resistance level at 2.4 and support level at 1.5.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
From June 2022, DYDX will maintain in a stable range. Although the price rose above the upper rail of the range in early 2023, it soon fell back into the range. DYDX remains neutral on a large scale. Recently, the volatility of DYDX has decreased. The price remains fluctuating within the previous accumulation zone (yellow zone). Since mid-July, the price has been hovering on the upper rail of the yellow area. You can see that there are many candles with upward pin-bars. But the bears have not strengthened, keeping the price in the yellow zone.
Conclusion: The high probability rise has not ended. We think it is difficult for the rise to end at this position. It should be noted that if today's red candle finally covers last green candle, the possibility of fluctuation will be increased, but this can only be confirmed when the market closes. We set resistance level at 2.4 and support level at 1.5.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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