DYDX/USD Price Sees Recovery Above $1.70

The dYdX price prediction shows that buyers defend $1.51 support, which results in a recovery above the resistance level of $1.70.

dYdX Prediction Statistics Data:

• DYDX price now – $1.75
• DYDX market cap – $292.7 million
• DYDX circulating supply – 156.2 million
• DYDX total supply – 1 billion
• DYDX Coinmarketcap ranking – #117

DYDX/USD Market

Key Levels:

Resistance levels: $2.40, $2.60, $2.80

Support levels: $1.10, $0.90, $0.70

DYDX/USD is hovering around the resistance level of $1.75 aiming to cross above the upper boundary of the channel. Yesterday, the market was extremely down heading toward the 9-day and 21-day moving averages. However, DYDX reached $1.80 a couple of days ago before plunging back to $1.50 yesterday. At the time of writing, the dYdX price is creating a new bullish trend and trading at $1.75 within the channel.

dYdX Price Prediction: DYDX Could Face the Upside

The dYdX price is likely to face the north as the market price moves to cross above the upper boundary of the channel. On the other hand, if the market dives below the previous support level of $1.50, DYDX/USD could slide below the 9-day and 21-day moving averages, which could bring the price to its critical supports at $1.10, $0.90, and $0.70. At the moment, the technical indicator Relative Strength Index (14) faces the north and this could increase the buying pressure.

Nevertheless, DYDX is trading at $1.75, a bullish continuation, and a cross above the upper boundary of the channel could touch the resistance levels of $2.40, $2.60, and $2.80 respectively. On the contrary, the dYdX price range could support the market against selling pressure. However, if the coin returns to its old support and break-even, bears could take over the market.

Against BTC, the daily chart reveals that bulls are showing a great commitment to DYDX trading, they are following the recent positive sign that started a few days ago; the trend may continue to go up if the buyers can sustain the pressure further. However, if the bulls succeeded in breaking above the upper boundary of the channel, the market price could reach the next resistance level of 1000 SAT and above.

In other words, a bearish cross below the moving averages may drag the coin toward the lower boundary of the channel, which could hit the support at 520 SAT and below. Therefore, with the look of things, the technical indicator Relative Strength Index (14) is moving towards the 60-level which could boost the bullish movement.

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