dYdX Price Prediction for Today, August 23 – DYDX Technical Analysis

The dYdX value prediction exhibits that DYDX is seen breaking above the $2.00 resistance degree to go towards the channel.

dYdX Prediction Statistics Knowledge:

dYdX value now – $2.10
dYdX market cap – $334.1 million
dYdX circulating provide – 156.2 million
dYdX complete provide – 1 billion
dYdX Coinmarketcap rating – #93

DYDX/USD Market

Key Ranges:

Resistance ranges: $2.50, $2.60, $2.70

Assist ranges: $1.70, $1.60, $1.50

DYDX/USD is seen refreshing to a brand new day by day excessive because the coin heads to the upside to commerce near the resistance degree of $2.20. In the meantime, the coin is presently buying and selling at $2.14 with a bullish motion above the 9-day and 21-day shifting averages. Quite the opposite, if the dYdX value slides beneath the decrease boundary of the channel, sellers might return to the market, however the bulls are more likely to accumulate extra on the worth dips.

dYdX Worth Prediction: DYDX Heads to the North

The dYdX value may have to take care of the upward motion if the newly touched $2.14 resistance degree is maintained in any respect prices. In the meanwhile, the technical indicator Relative Power index (14) is more likely to cross above the 60-level because the sign line factors to the north to encourage extra patrons. Nonetheless, dYdX (DYDX) can now start to observe the uptrend as quickly because the coin stays above the shifting averages.

Nonetheless, if the pink line of the 9-day MA crosses above the inexperienced line of the 21-day MA, the dYdX value might carry out effectively and will attain the resistance ranges at $2.50, $2.60, and $2.70 respectively. In the meantime, if the market value slides and faces south, there could also be a bearish drop which might roll the coin all the way down to the assist ranges of $1.70, $1.60, and $1.50 respectively.

DYDX/BTC Creates Extra Good points

In opposition to Bitcoin, the dYdX value is hovering above the 9-day and 21-day shifting averages as the worth touches the day by day excessive at 8119 SAT. Nonetheless, the technical indicator Relative Power Index (14) is more likely to transfer into the overbought area because the coin goals for extra uptrends.

Furthermore, the potential resistance degree may very well be positioned at 8700 SAT and above, however a decrease sustainable transfer might cancel the bullish motion and this might entice new sellers coming into the market with the subsequent deal with the assist degree of 6800 SAT and beneath.

Options to dYdX

On the time of writing, DYDX/USD is buying and selling at $2.14 throughout the channel, indicating a bullish motion available in the market. For now, the market value is shifting towards the resistance degree of $2.20 whereas the buying and selling quantity confirms the upward motion.

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