- The price of DYDX is trading near $1.66. The price of the coin rose by 10.12% in the last 24 hours.
- The DYDX price is observing a decline of -15.02 in the last 7 days.
- The DYDX market cap is at $271847905.
By studying the previous price data, we can say that DYDX is in a downtrend currently. The price declined in the last seven days and we can say that DYDX is underperforming right now. From its peak price, it fell 94.03% since the last year and destroyed the investors’ wealth. As we know, the current market sentiments are not good and there is no big volume or even buyers available in the current market condition. This could be a reason for the underperformance of the coin.
DYDX Price Analysis
EMA: The price of DYDX presently is trading below 50 and 200 EMA which suggests the price is in a downward trend. If the sellers continue to push the price downwards, it could fall more in value in the upcoming week if current support will be destroyed by the sellers.
MACD: Right now, MACD is giving bearish views. The MACD line is at -0.153 and the signal line is at -0.129. Both are on the negative side and give bearish signals and are also below the zero line.
RSI: The RSI line has been moving in the oversold territory for the past few days. The 14 SMA has a value of 38.15 points and the RSI line is around 37.62. This indicates that the DYDX market is in the oversold zone.
Stochastic RSI: The current %d line is at 25.57 and the %k line is at 15.95 which indicates DYDX is in an oversold zone.
Trendline Analysis
As per the Trendline, it seems it’s respecting the Trendline. For now, it’s getting support from the trendline and can go upward to the resistance line shortly. But in the future, it appears to be bearish. So, the price of DYDX can continue to fall and try to break the current support.
Volume Analysis
DYDX trading volume of 24 hours is $53476427.66, with an 11.50% increase in volume in the last 24 hours. Currently, the volume is low because of adverse market conditions and due to a lack of buyers in the market.
Technical Levels
- Support – The current support level of DYDX is $1.387.
- Resistance –The current Resistance level of ROSE is DYDX $2.896.
Conclusion
According to the analysis, the indicators indicate a bearish signal. The price is under the control of bears, and it is expected to fall more in the near future. DYDX’s price shows a pessimistic scenario at the moment. Major reliable indicators like EMA, RSI, and MACD give negative signals about the DYDX coin. Investors are also not showing any significant buying interest, and this could be happening because of the consistent negative performance of the coin. If the coin breaks the current level, then the chances of the coin falling further may also increase.
Disclaimer
The analysis given above is for informational and educational purposes only. You should not be taken it as financial, investment, or any other trading advice. Investing in or trading crypto assets is risky. Please consider your circumstances and risk profile before making any investment decisions.
