Altcoin Opportunities

Quick update on dYdX

Updated: Jul 25, 2024

Published: Nov 18, 2023

So, as per some requests in the On-demand TA channel, we took a little look at DyDX.

Going off what prices told us in the past, DYDX is approaching a key support/resistance level around $3.20.

Daily candlestick closing in the $3.20 area will be an important indicator of where DyDX is headed. Closing below increases the odds of further downside while closing above signals upside potential.

Key takeaways are:

Current market prints signal willingness for more upside.
We're in "buy the dip" mode unless market sentiment shifts.
$3.20 is a chance to get good entry before the next move-up.

In conclusion, we will continue watching $3.20 for long setups and won’t recommend shorting DyDX.

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