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Dydx

DYDX in descending parallel channel#DYDXUSDT $DYDX is trading inside a descending parallel channel and try to break out from middle line. if price success to break out the middle line which is the same with a resistance zone and then upper line of parallel channel (that's too much) then price will head up toward $32 and $34 but I think it is possible that price drop more to touch the support zone around $17.8 that is the same with long term ascending support line,and then a strong rally to $32.
by parissap
Time to buy dYdX !!!!So dYdX finally did some decent retrace, actually a perfect retrace to the 0.382 Fibonacci level. We have 4 factors to buy dYdX right now: 1- 0.382 fibonacci support level 2- lower line of this bullish bull flag 3- diagonal support line that hold us from $10 till this day 4- Oversold RSI So it’s just a good bet to buy dYdX here Your target should be around $33 and stoploss should be at -$16 The only negative sign is the funding rate, which despite the bearishness of these past days it is still high af.
Long
by CryptoSep
7
Dydx getting ready for a big move to $40 - 80% ProfitdYdX (DYDX) protocol token is the governance token of the dYdX community that can be used to gain mining rewards and participate in staking pools, and receive trading discounts on its exchange. ----------------------------------------- DYDXUSDT ----------------------------------------- ▶️ Buy: 22.3 ⚠️ Stop loss: 1D candle under 2.7 ⭐ Target 1: $27.3 ⭐ Target 2: $32.4 ⭐ Target 3: $40 ----------------------------------------- Good luck 💗
Long
by Amr_Tawfik
6
DYDXUSDT is Converging and two timing to entry!/Trading strategyBYBIT:DYDXUSDT - 1H trend chart - DYDX has converged for a while and formed an obvious triangle. You can notice lots trend lines needed to be broken, so I'll provide 2 different entry timing for you as below - 1. Aggressive traders There are 2 blue horizontal lines, the upper one is a nice timing for aggressive traders. It just broke out the orange downtrend line, so can wait for price stands firm at $24.960 2. Conservative traders Conservative one could wait for the price takes out the long-term upper downtrend line, as the pattern at the top left. - Profit Targets: a) 27.857----Fib(1) b) 32.414~34.257----Fib(1.272~1.382) c) 44.611-----Fib(2) Stop losses: a) 22.001-----for Aggressive traders(Red horizontal line) I'll update for Conservative traders if the downtrend line are taken out. - If you like this analysis, give it a like and leave a comment below to share your perspective or let me know what crypto you want to see! Trading is a reflection of yourself. Learn more daily and be ready for every opportunity. Have a nice trading!
Long
by EthanTW
4
10/14/21 DYDX LongStarting a longer term position in DYDX (one of the most liquid, leading decentralized exchanges) Traded up on the news that Binance was banning/placing more restrictions on China , makes me think that users will move to other platforms, trading on a decentralized exchange is probably going to be a good option in the future when more restrictions/regulation happens. Although that move got faded, it's still trading in a nice price range right now between 25.057 resistance and 22.216 support. The DYDX decentralized exchange platform is built on Layer 2 ZK-Rollup technology based on the Ethereum blockchain , which give it the security of Ethereum smart contracts combined with no gas fees for users while trading their cross-margined Crypto Perpetual Futures Contracts. Great that this can solve many of the problems for users in crypto restricted regions by moving their trading volume to a DEX that has good security and privacy. Standard Spot and Margin crypto markets are also still accessible on their L1 ETH based protocol. Backed by global institutional investors such as venture capitalist Paradigm among other angel investors and leading funds. I see that it has good room for growth in the future not only based on their fundamentals, but also that the technical setup of their chart also looks great, which makes me very interested in a larger long term position. Sample Trade Plan: 1- 3 Month Target: @ 30.047 (+35% profit from 22.216 starter) Resistance: @ 25.057 (+13% profit from 22.216 starter) Support: @ 22.216 (starter on position with room to add up to 21.092 support below) Bottom Range Support: @ 21.092 (-4.6% drawdown from 22.216) If trading on short term leverage up to 25.057 resistance, will have more than made back the capital spent, and can switch to spot/lower leverage to hold position long term comfortably above that 30 target. Short term profits funding long term position. TL;DR Basically cool project + Technicals look good + Scalable L2 will be compatible with new crypto innovations in the future -> Interest me in taking a long term position along with ETH for some diversity in DeFi exchanges DYDX Long Trade Idea on Daily Chart
Long
by machdragon
2