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Dydx

DYDX - We're in the endgame now.... (Weekly & Daily TimeFrames) On The Weekly , DYDX officially in the middle of an extremely coiled up volatility squeeze. Looks like we'll have a breakout signal direction showing up soon. Consistently Rejected the upper-bound $2.26 range on the Weekly Time Frame. - 🟧 Volatility Squeeze Channel . (Gold Shaded Area) - ♦️ Red Diamonds - 📈 Red Trend-line - Yet we have a diminishing of negative volatility momentum . Looks like a retest of $1.65, the absolute lower bound of the range is in play. On the Daily we're seeing - 📈 Consistent rejections right on the red-trackline . - ♦️ Red Diamonds - 🔶 Failed Golden Diamond momentum reversals. These indicators behind the scenes perform the work of hundreds. So we're seeing negative confluence littered across an entire spectrum of categories for this asset. That being said, DYDX is still a global leading behemoth in the DEFI Perpetual space. With no slowing down. The downside we're seeing could be an opportunity for those where this fits into their portfolios appetite.
by Trinium-Labs
DYDX - We're in the endgame now.... (Weekly & Daily TimeFrames) On The Weekly , DYDX officially in the middle of an extremely coiled up volatility squeeze. Looks like we'll have a breakout signal direction showing up soon. Consistently Rejected the upper-bound $2.26 range on the Weekly Time Frame. - 🟧 Volatility Squeeze Channel . (Gold Shaded Area) - ♦️ Red Diamonds - 📈 Red Trend-line - Yet we have a diminishing of negative volatility momentum . Looks like a retest of $1.65, the absolute lower bound of the range is in play. On the Daily we're seeing - 📈 Consistent rejections right on the red-trackline . - ♦️ Red Diamonds - 🔶 Failed Golden Diamond momentum reversals. These indicators behind the scenes perform the work of hundreds. So we're seeing negative confluence littered across an entire spectrum of categories for this asset. That being said, DYDX is still a global leading behemoth in the DEFI Perpetual space. With no slowing down. The downside we're seeing could be an opportunity for those where this fits into their portfolios appetite.
by Trinium-Labs
dYdX / US Dollar (DYDXUSDT) Token Analysis 11/09/2023Fundamental Analysis: DYDX (dYdX) is the governance token associated with the layer 2 protocol of the decentralized cryptocurrency exchange that shares its name. This token plays a crucial role in facilitating the operation of the layer 2 protocol and empowers traders, liquidity providers, and partners to actively participate in shaping the protocol's future as part of the community. Token holders enjoy various privileges, including the ability to propose changes to the dYdX layer 2 protocol. They also have opportunities for profit through activities such as token staking and trading fee discounts. Leveraging the StarkEx scalability engine from Starkware, the layer 2 solution on dYdX is specifically tailored for cross-margined perpetual trading. This scaling solution enhances transaction speed, eliminates gas costs, reduces trading fees, and lowers minimum trade sizes on the platform. As an open-source platform with smart contract capabilities, dYdX serves as a versatile ecosystem for users to engage in lending, borrowing, and trading various crypto assets. While the platform does support spot trading, its primary focus lies in derivatives and margin trading. Founded in 2017, dYdX secured over $10 million in seed venture capitalist funding and officially launched in 2019. The DXDY token's initial coin offering (ICO) took place on September 9th, 2021. dYdX stands as a cryptocurrency exchange that melds advanced financial tools with the principles of decentralization. The platform offers support for margin trading, a financial product that empowers investors to amplify their exposure to digital assets through leverage. dYdX offers two distinct margin trading options: isolated margin, allowing users to allocate specific funds for a trade, and cross-margin, which utilizes all assets held by a trader on the platform. Additionally, dYdX facilitates the trading of perpetuals, a type of futures contract without a predetermined expiry date. The exchange provides a maximum leverage of 25x on synthetic assets that have no expiration date. When users deposit funds into their dYdX accounts, they immediately begin earning interest, as their assets become part of a global lending pool dedicated to each cryptocurrency. dYdX ensures the security of lenders by requiring borrowers to maintain sufficient collateral in their accounts at all times. Borrowing on dYdX enables users to swiftly acquire any available asset on the platform by using their existing funds as collateral for the loan. Unlike automated market makers such as Uniswap, dYdX employs an order book architecture. dYdX's Layer 2 solution enhances network scalability by implementing zero-knowledge rollup technology, specifically zkSTARKS. This technology generates proofs while validating a batch of transactions off-chain. These proofs are then transmitted back to the blockchain, where they are verified by a smart contract. zkSTARKS allows for the offloading of resource-intensive computations from the mainnet without compromising decentralization. In addition to trading and liquidity provider rewards, dYdX introduces retroactive mining benefits, demonstrating gratitude to historical users and encouraging their continued participation on the Layer 2 protocol. Token holders can stake their assets in dYdX's safety and liquidity pools. The safety pool serves as a safeguard in case of a shortfall event, while the liquidity pool aims to attract high-quality market makers to the platform. DYDX is an ERC-20 token that has been deployed on the Ethereum mainnet. The layer 2 scaling solution utilized by dYdX is constructed on Starkware's ZK-STARKS technology, leveraging the Ethereum blockchain to validate transaction proofs. The DYDX token was initially made available for purchase in September 2021. Antonio Juliano, a seasoned programmer with a strong background in blockchain technology, serves as the Founder and CEO of dYdX. His foray into the cryptocurrency realm began in 2015 when he secured a position as a software engineer at Coinbase, a prominent cryptocurrency exchange platform. Holding a computer science degree from Princeton University, Antonio Juliano embarked on his entrepreneurial journey and established dYdX in early 2017. Zhuoxun Yin assumes the role of Head of Operations at dYdX. His prior experience includes positions at Nimble, a social sales and marketing CRM, and Bain & Company, a renowned consulting service. Zhuoxun Yin pursued his education at the University of Queensland, where he earned a bachelor's degree in commerce. Technical Analysis: We have applied Fibonacci retracement tools, extending from $0 to its all-time high (ATH) of $27.9. Within this analysis, we have identified potential support and resistance areas on the chart based on the retracement levels. In addition to the retracement levels, we have utilized Fibonacci projection tools to delineate additional potential support areas below the previous all-time low price. This projection is based on the most recent market cycle. Consequently, we have established three potential support levels at $1.4 or 95% and $1 Defined by Price Action and $0.5 defined by Projection of the past cycle. Furthermore, we have outlined three potential price targets using the Fibonacci retracement levels from the ATH cycle. These targets are anticipated within the next few weeks to months and are as follows: First Target Price (1 TP): $4.15 Second Target Price (2 TP): $6 Third Target Price (3 TP): $10.5 These levels serve as key reference points for our analysis, guiding our expectations for future price movements. Sentiment Analysis: Considering the possibility of depreciation in the total market capitalization of cryptocurrencies and the price of Bitcoin (BTC) in the upcoming months, it is reasonable to consider employing a Dollar Cost Averaging (DCA) strategy for long positions at the specified support levels.
Long
by BitonGroup
dYdX Tight RangeThe price of dydxusdt went up a lot yesterday. Now, I think the price needs to calm down a bit. My expectation is that the price will go back up again to a certain level. This level is where the price was before and acts like a support area. This should help the price to keep going up. There is a level at $2.203 where the price has had trouble going above. It's like a strong wall. Instead of trying to go over it in one big jump, I expect the price to go up and down around this level a few times. This can make it easier to finally break through this level. Daily timeframe shows more details on overall picture:
by ArShevelev
DYDX/USDT Bullish Momentum?? 💎🚀 DYDX Today Analysis💎 Currently, DYDX is navigating within a descending channel pattern and is making an attempt to breach the supply zone. If it struggles to surpass this zone, we might see DYDX retreat to the demand area between 1.63 - 1.74, aiming to tap into the order block situated there. This could set the stage for a potential rebound and a subsequent upward trajectory. 💎However, if DYDX manages to break through the supply zone promptly, it's a positive indicator. Yet, for a confirmed bullish momentum, DYDX needs to shatter the resistance trendline of the descending channel. Achieving this could pave the way for a spirited rally, targeting the 2.755 - 3.15 range. 💎Conversely, should DYDX falter within the 1.63 - 1.74 demand zone or even dip below it, it suggests the possibility of a deeper decline, crafting a new lower low. Paradisers, stay vigilant and monitor these potential shifts! 🌴
by MyCryptoParadise_Nathan
DYDX/USDT planning downward move?👀 DYDX Today Analysis 💎DYDXUSDT is on an interesting trajectory as it has been repeatedly rebuffed from our projected resistance level, setting up a bearish momentum. 💎 Another factor to consider is the bearish divergence of the RSI. Despite the upward move, the RSI indicates bearish momentum, suggesting a potential downward shift of $DYDX. 💎 The presence of an unmitigated bullish OB and price imbalance further reinforces the likelihood of a bearish move. 💎 In the dynamic world of crypto, staying informed and adaptable is key. Stay tuned for more updates and enjoy your trading journey
Short
by MyCryptoParadise_Simon
DYDX – Long-Term Entry Point• In my previous TV idea, I wrote that DYDX has immense long-term price potential. • This long trade could be a swing trade or a position trade for the long term. • The prerequisite condition is that DYDX will breach the 2.15 USDT level resistance and flip it to support. • I think you will have to use your judgment about placing the SL because it depends on your time horizon. If you buy a spot for the long term or if it’s a swing futures trade. • Also, for the take-profit point. If you are buying for the long term maybe you should forgo TP1 and TP2. Trade Idea: • Entry: 2.15 USDT • SL: 1.98 USDT • Target: 3.13 USDT (initially) • TP: 2.43, 2,69, 3.13 USDT
Long
by NewThoughtCrypto
#DYDXUSDT's Extended Pullback Offers Opportunities💎 Back in January 2023, a significant event took place in the #DYDXUSDT market. The price broke above a seven-month range zone, indicating the emergence of a new long-term trend. However, since then, we have witnessed a consistent decline in price, which can be seen as an extended pullback. Despite this, recent price action in #DYDX presents several signals suggesting that the correction phase may have reached its conclusion. 💎 Firstly, on June 10th, there was a notable bounce off the downtrend trendline, which has been acting as a reliable support level. This bounce signifies the strength of this trendline as a crucial level of price support. Additionally, over the past week, price movement has hovered around the 50% Fibonacci support level at $1.762, where we also witnessed a clean bounce. Maintaining a daily closing price above this Fibonacci support becomes essential for the potential realization of a significant price increase. 💎 The key supply zone for #DYDX lies between the 78.6% and 88.6% Fibonacci retracement levels, offering an enticing upside potential of up to 87% growth. As always, the MCP team will diligently monitor the current support level for a potential breakout. Should the breakout occur, it would invalidate the bullish scenario, and #DYDX is likely to continue its descent, potentially testing the demand zone near $1.3. Stay informed and prepared, Paradisers, as MCP team is committed to providing you with timely updates and valuable insights to assist you in making informed trading decisions. 🌴
Long
by MyCryptoParadise
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