- Bullish DYDX price prediction is $2.344 to $10.853.
- The DYDX price will also reach $12 soon.
- DYDX bearish market price prediction for 2022 is $1.012.
In dYdX (DYDX) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about DYDX to analyze the future movement of the cryptocurrency.
dYdX (DYDX) Current Market Status
According to CoinGecko, the price of dYdX (DYDX) is $1.75 with a 24-hour trading volume of $99,150,672 at the time of writing. However, DYDX has decreased to 3.7% in the last 24 hours.
Moreover, dYdX (DYDX) has a circulating supply of 109,847, 609 DYDX. Currently, DYDX trades in cryptocurrency exchanges such as Binance, MEXC, BingX, OKX, and Bybit.
What is dYdX (DYDX)?
dYdX (DYDX) is a decentralized exchange platform for cryptocurrency margin trading for assets like BTC, ETH, SOL, DOT, and some more crypto assets. Furthermore, the hype around dYdX has intensified because the exchange finally presents a clear decentralized to perpetual exchange BitMex, FTX, and Bitfinex.
dYdX is a brilliantly executed decentralized crypto derivatives exchange with a plethora of margin trading and perpetual for everyone. Besides having a clever name, dYdX has filled a compelling niche within the crypto trading realm.
dYdX (DYDX) Price Prediction 2022
dYdX (DYDX) holds the 163rd position on CoinGecko right now. DYDX price prediction 2022 is explained below with a weekly time frame.
A rounding bottom is a chart pattern used in technical analysis and is identified by a series of price movements that graphically form the shape of a “U”.Hence more, rounding bottoms are found at the end of extended downward trends and signify a reversal in long-term price movements.
More so, a rounding bottom chart can be divided into several main areas. First, the prior trend shows the buildup to the stock’s initial descent toward its low. The rounding bottom breaks out of its low point when the stock price closes above the price immediately prior to the start of the initial decline.
Currently, dYdX (DYDX) is at $1.41. If the pattern continues, the price of DYDX might reach the resistance level of $2.500, and $5.489. If the trend reverses, then the price of DYDX may fall to $1.535
dYdX (DYDX) Support and Resistance Levels
The chart below shows the support and resistance levels of dYdX (DYDX).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of dYdX (DYDX).
| Resistance Level 1 | $2.344 |
| Resistance Level 2 | $4.246 |
| Resistance Level 3 | $7.157 |
| Resistance Level 4 | $10.853 |
| Support Level 1 | $1.605 |
| Support Level 2 | $1.012 |
The charts show that DYDX has performed a bullish trend over the past month. If this trend continues, DYDX might run along with the bulls overtaking its resistance level at $10.853.
Accordingly, if the investors turn against the crypto, the price of the DYDX might plummet to almost $1.012, a bearish signal.
dYdX (DYDX) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of dYdX (DYDX) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of DYDX lies below the cutoff line, indicating weak participants in the current trend.
Moreover, the Moving Average (MA) of dYdX (DYDX) is shown in the above chart. Notably, the DYDX price lies above 50 MA (short-term), so it is entirely in an upward trend. Currently, DYDX is in a bullish state. There is a possibility of a reversal trend of DYDX at any time.
Meanwhile, the relative strength index (RSI) of the DYDX is at a level of 61.64. This means that DYDX is in a nearly overbought state. However, this gives confidence to the traders to trade without any fear.
dYdX (DYDX) Price Prediction 2022 — ADX, RVI
Let us now look Average Directional Index (ADX) of dYdX (DYDX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of dYdX (DYDX). Currently, DYDX lies in the range of 26.563, so it indicates a strong trend.
From the above chart, the Relative Volatility Index (RVI) of dYdX (DYDX). RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of DYDX lies above 50, indicating higher volatility. In fact, DYDX’s RSI is at 61.64, thus confirming a potential buy signal.
Comparison of DYDX with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and dYdX (DYDX).
From the above chart, we can interpret ETH, BTC, and DYDX are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and DYDX also increase or decrease respectively.
dYdX (DYDX) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, dYdX (DYDX) might probably attain $16.5 by 2023.
dYdX (DYDX) Price Prediction 2024
With several upgrades in the network, dYdX (DYDX) might enter a bullish trajectory. If the coin grabs the attention of major investors, DYDX might rally to hit $18.6 by 2024.
dYdX (DYDX) Price Prediction 2025
If dYdX (DYDX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, DYDX would rally to hit $20.
dYdX (DYDX) Price Prediction 2026
If dYdX (DYDX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, DYDX would rally to hit $23.
dYdX (DYDX) Price Prediction 2027
If dYdX (DYDX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, DYDX would rally to hit $27.
dYdX (DYDX) Price Prediction 2028
If dYdX (DYDX) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, DYDX would hit $31.
dYdX (DYDX) Price Prediction 2029
If investors flock in and continue to place their bets on dYdX (DYDX), it would witness major spikes. DYDX might hit $36 by 2029.
dYdX (DYDX) Price Prediction 2030
With greater advancements in the dYdX ecosystem, the crypto community might continue to invest in dYdX (DYDX) for the next 8 years and drive significant price rallies for the token. Hence, dYdX (DYDX) might hit $40 by 2030.
Conclusion
With continuous improvements in the dYdX network, we can say that 2022 is a good year for DYDX. For this reason, the bullish price prediction of dYdX (DYDX) in 2022 is $10.853. On the other hand, the bearish price prediction of dYdX (DYDX) for 2022 is $ 1.012.
Furthermore, with the advancements and upgrades in the dYdXecosystem, the performance of dYdX (DYDX) might hit $12 gaining investors’ attention. It would also rise to reach above its all-time high (ATH) of $27.86 in the near future.
FAQ
dYdX (DYDX) is a decentralized exchange platform for cryptocurrency margin trading for assets like BTC, ETH, SOL, DOT, and some more crypto assets.
dYdX (DYDX) has been listed on many crypto exchanges which include Binance, MEXC, BingX, OKX, and Bybit.
With the ongoing developments and upgrades within the dYdX platform, dYdX (DYDX) has a high possibility of reaching its ATH soon.
On Sep 30, 2021, dYdX (DYDX) reached its new all-time high (ATH) of $27.86.
dYdX (DYDX) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of dYdX in the past few months, DYDX is considered a good investment in 2022.
dYdX (DYDX) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then dYdX (DYDX) will hit $12 soon.
dYdX (DYDX) price is expected to reach $16.5 by 2023.
dYdX (DYDX) price is expected to reach $18.6 by 2024.
dYdX (DYDX) price is expected to reach $20 by 2025.
dYdX (DYDX) price is expected to reach $23 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Source: https://thenewscrypto.com/dydx-dydx-price-prediction-2022-will-dydx-hit-12-soon/