DYDX Network crypto surged by 3.62% in market value and surged by 55.66% in trading volume in the last 24 hours, as per the Coinmarketcap, a crypto data analysis website. Its market value is $311,674,043 and its trading volume is $50,787,886. There are 156,256,174 DYDX in circulation.
DYDX crypto’s (DYDX) open interest is $47.84 Million. As per Coinglass, another crypto analysis website, it rose by 13.31% in the previous session. The long versus short ratio in DYDX crypto for 24 hours is 0.8529. The total number of short positions added in the last 24 hours is $71.66 K against longs of $187.43 K.
DYDX (DYDX) has a fully diluted valuation (FDV) of $1,994,569,199. This is a presumed market cap by assuming all 1 Billion DYDX tokens are circulating today. This is as per Coingecko which is a crypto information and data website. However, reaching the actual FDV in DYDX may take years, depending on how the DYDX tokens are distributed over time.
DYDX Crypto Price in the 1-Day Timeframe (Technical Analysis)
At the time of publication, the DYDX crypto price is trading around $2.450, and trading above the resistance turned support over the daily time frame at $2.375.
Therefore, the DYDX crypto price could continue to move downward, If it fails to maintain the current level and reach the nearest support at $2.375 and $1.492.
However, if the DYDX crypto price sustains the current level and increases, then it might hit the nearest resistance levels of $2.915 and $3.194.
At the time of publishing, the DYDX crypto price (BINANCE: DYDX) is trading together above the 20, 50, 100, and 50-day EMAs (exponential moving averages), which supports the DYDX crypto price trend.
The MACD line at 0.045 and the signal line at 0.017 is above the zero line. Both lines cross each other and a bullish crossover is observed in the MACD oscillator, suggesting bullish signals. The current value of the RSI is 59.82 points and the 14-day SMA is above the median line at 25.98 points, which indicates bullish sentiments as RSI took support on the 14 SMA line highlighting bullishness.
Conclusion
DYDX crypto price prediction highlights the bullish sentiments and perspectives of investors and traders regarding DYDX crypto in the daily time frame. DYDX price action highlights a bullish view at the time of publishing. Moreover, the technical oscillators which are reliable and most sought such as RSI, MACD, and EMA of the DYDX price suggest the continuation of the uptrend over the daily time frame chart, giving positive signals regarding the DYDX price.
Technical Levels:
- Support levels: The nearest support levels are $2.375 and $1.492.
- Resistance levels: The nearest resistance levels are $2.915 and $3.194.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/23/dydx-price-prediction-2023-can-dydx-crypto-surpass-the-3-mark/