In this dYdX technical analysis, we will examine the current price action, trading volume, key levels and indicators for DYDX-BTC. dYdX is a decentralized derivatives trading platform that enables users to trade a variety of assets on the Ethereum blockchain. The platform utilizes a novel liquidity pool model to provide liquidity for its markets, allowing for more efficient and secure trading. With dYdX, users can access a wide range of derivative products, including perpetuals, futures, and options, all within a decentralized ecosystem.
dYdX Price Overview:
As of July 06, 2024, dYdX is trading at approximately 2e-05 BTC. Let’s dive into the detailed price action for DYDX-BTC:
| Metric | Value |
|---|---|
| Open (O) | 2e-05 |
| High (H) | 2e-05 |
| Low (L) | 2e-05 |
| Close (C) | 2e-05 |
| Volume (C) | 362,471.42 |
- Open (O): The opening price for today’s trading session was approximately 2e-05 BTC.
- High (H): dYdX reached a daily high of around 2e-05 BTC.
- Low (L): The daily low for DYDX-BTC was approximately 2e-05 BTC.
- Close (C): At the time of analysis, dYdX is trading near its daily close of 2e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 5.70% |
| 3D Change (%) | 8.59% |
| 7D Change (%) | 3.05% |
| 30D Change (%) | -26.24% |
| 90D Change (%) | -49.20% |
| YTD Change (%) | -67.57% |
Over the past three days, DYDXBTC has increased by approximately 8.59%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 3.05%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with DYDXBTC maintaining a downward trend of approximately -26.24%, despite intermittent fluctuations. Examining the last 90 days, DYDXBTC has witnessed substantial fall of approximately -49.20%, reflecting strong long-term confidence. Year-to-date, DYDXBTC has steadily dropped by around -67.57%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
dYdX Live Chart:
You can access a live price chart for DYDX-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.55134.
- Momentum score is -0.02331.
DYDX BTC Technical Analysis
dYdX Trading Volume:
The trading volume for dYdX (DYDX) over the past 24 hours has been significant, with approximately 362,471.42 BTC traded against DYDX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): DYDX is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): dYdX is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for DYDX-BTC is currently in the low zone, around 40.45059. This suggests that dYdX is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
dYdX (DYDX-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Receive signals of growth for dYdX (DYDXBTC) at 2.26e-05 BTC through positive technical analysis, backed by strong support and promising indicators.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.