💎 DYDX's market performance has recently been in the spotlight. Presently, DYDX has impressively broken out of a falling wedge pattern, indicating bullish momentum for its upcoming movements.
💎 The price is currently in a retesting phase at the trendline, and there's a strong probability that it may bounce back, resuming its upward trajectory towards our targeted bearish OB area.
💎 However, if DYDX dips below the trendline again, it could be a sign of a false breakout, which might lead to a reversal in its trajectory towards the support level at 2.25.
💎 The support level at 2.25 is a critical juncture for DYDX, given its history of being a strong point of resistance or support. If DYDX revisits this level, a bounce back would be essential to prevent a shift into a bearish trend. Failure to rebound from this support could mean a continued decline, potentially leading to even lower price levels.
💎 The price is currently in a retesting phase at the trendline, and there's a strong probability that it may bounce back, resuming its upward trajectory towards our targeted bearish OB area.
💎 However, if DYDX dips below the trendline again, it could be a sign of a false breakout, which might lead to a reversal in its trajectory towards the support level at 2.25.
💎 The support level at 2.25 is a critical juncture for DYDX, given its history of being a strong point of resistance or support. If DYDX revisits this level, a bounce back would be essential to prevent a shift into a bearish trend. Failure to rebound from this support could mean a continued decline, potentially leading to even lower price levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Want to trade like a PRO without the 15+ year learning curve?
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.