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The dydX price prediction shows DYDX breaking above the USD 2.00 resistance level to move towards the channel.
dYdX Prediction Stats:
- dYdX price now – $2.10
- dYdX market cap – $334.1 million
- dYdX circulating supply – 156.2 million
- dYdX total supply – 1 billion
- dYdX Coinmarketcap Ranking – #93
DYDX/USD Market
Key Levels:
Resistance Levels: $2.50, $2.60, $2.70
Support Levels: $1.70, $1.60, $1.50
DYDX/USD is seen refreshing to a new daily high as the coin moves up and trades close to the USD 2.20 resistance level. Meanwhile, the coin is currently trading at $2.14 with a bullish move above the 9-day and 21-day moving averages. On the contrary, if the dYdX price falls below the lower limit of the channel, sellers may return to the market, but the bulls are likely to make more from the price drops.
dYdX Price Prediction: DYDX Heads North
dydX price may need to continue its upward move if the new USD 2.14 resistance level is held at all costs. At this point, the Relative Strength Index (14) technical indicator is likely to move above the 60 level as the signal line points north to encourage more buyers. However, dYdX (DYDX) can now start following the uptrend once the coin remains above the moving averages.
Nevertheless, if the red line of the 9-day MA crosses the green line of the 21-day MA, the dYdX price could perform well and reach the USD 2.50, USD 2.60 and USD 2.70 resistance levels, respectively. Meanwhile, if the market price is declining and pointing south, a bearish decline could occur that could send the coin falling towards the USD 1.70, USD 1.60 and USD 1.50 support levels, respectively.
DYDX/BTC creates additional profit
Against Bitcoin, dYdX price is hovering above the 9-day and 21-day moving averages as the price hits the daily high at 8119 SAT. However, the Relative Strength Index (14) technical indicator is likely to move into overbought territory as the coin seeks more upside trends.
In addition, the potential resistance level could be at 8700 SAT and above, but a lower sustainable move could negate the bullish move and this could attract new sellers entering the market with the next focus on the support level of 6800 SAT and below.
Alternatives to dYdX
At the time of writing, DYDX/USD is trading within the channel at $2.14, indicating a bullish move in the market. For now, the market price is moving towards the USD 2.20 resistance level, while trading volume confirms the upward move.
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