DYDX BTC dYdX Technical Analysis

dYdX logo In this dYdX technical analysis, we will examine the current price action, trading volume, key levels and indicators for DYDX-BTC. dYdX (DYDX) is a decentralized derivatives exchange that offers traders the ability to trade perpetual swaps, options, and other derivatives on a wide range of assets. The platform utilizes a novel liquidity pool mechanism to provide liquidity to traders, allowing for fast and efficient trades. dYdX also features a robust security system, ensuring that users’ assets are protected from hacking and other malicious activities.

dYdX Price Overview:

As of October 02, 2023, dYdX is trading at approximately 7e-05 BTC. Let’s dive into the detailed price action for DYDX-BTC:

Metric Value
Open (O) 7e-05
High (H) 7e-05
Low (L) 7e-05
Close (C) 7e-05
Volume (C) 208,044.07
  • Open (O): The opening price for today’s trading session was approximately 7e-05 BTC.
  • High (H): dYdX reached a daily high of around 7e-05 BTC.
  • Low (L): The daily low for DYDX-BTC was approximately 7e-05 BTC.
  • Close (C): At the time of analysis, dYdX is trading near its daily close of 7e-05 BTC.
Metric Value
1D Change (%) 2.01%
3D Change (%) 1.05%
7D Change (%) 0.45%
30D Change (%) -6.60%
90D Change (%) 15.76%
YTD Change (%) 9.57%

Over the past three days, DYDXBTC has risen by approximately 1.05%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.45%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with DYDXBTC maintaining a downward trend of approximately -6.60%, despite intermittent fluctuations. Examining the last 90 days, DYDXBTC has witnessed substantial rise of approximately 15.76%, reflecting strong long-term confidence. Year-to-date, DYDXBTC has steadily increased by around 9.57%, 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 0.27533.
  • Momentum score is -0.06602.

DYDX BTC Technical Analysis

dYdX Trading Volume:

The trading volume for dYdX (DYDX) over the past 24 hours has been significant, with approximately 208,044.07 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 neutral zone, around 49.08044. This suggests that dYdX is in range-bound 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 neutral RSI and significant trading volume are neutral signals for potential sideways movement.

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.