Recently, the price movement of DYDX has attracted the market's follow. After a period of bottom consolidation, DYDX has finally shown signs of a rise trend. Although its price is still in a downward channel from a long-term perspective, this rebound seems to be different from previous ones.



From a technical analysis perspective, if DYDX can break through the current medium-term resistance line, it is likely to launch an attack towards the 1 dollar mark. This price level is considered an important defense line for the bears, and breaking it would have significant technical implications.

It is worth noting that on-chain data also reveals some interesting information. Since the end of July, addresses holding 100,000 to 1,000,000 DYDX have been slowly but steadily increasing their positions. Although this does not constitute large-scale buying, more importantly, these addresses have not shown large-scale selling, which may suggest a gradual recovery of market confidence.

Another phenomenon worth following is that there was a net outflow of DYDX from exchanges for three consecutive days last week. This may indicate that some investors are transferring their holdings of DYDX to cold wallets, suggesting that more investors may be adopting a medium to long-term holding strategy.

In terms of short-term price movement, the range of 0.68-0.70 dollars constitutes an important support level. If DYDX can stabilize within this range, the possibility of breaking upward to the range of 0.95-1 dollars will greatly increase.

However, investors still need to be cautious. The price movement of DYDX is largely influenced by market sentiment. If the overall cryptocurrency market sentiment improves, DYDX may experience a significant rise. However, it is still wise to remain cautious and patient before breaking through key resistance levels.

Overall, DYDX is currently at a potential turning point. Improvements in technical aspects, combined with positive signals from on-chain data, provide some optimistic reasons for its future movement. However, investors also need to closely follow changes in overall market sentiment, as this may be a key factor affecting DYDX price movement.
DYDX0.63%
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just_another_walletvip
· 08-16 13:35
Are bearish traders doing well?
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Darah378Milivip
· 08-14 10:18
The big insight of the whales was to buy out and collect for the wallet. They are earning by putting it in the liquidity pool, or simply in Stake. While they earn carefreely, the traders cry.
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PerpetualLongervip
· 08-14 04:21
Ah, ah, bearish traders, don't stop me! This breakout is about to da moon! Copy trading, full position, only looking long!
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HashRateHermitvip
· 08-14 00:04
Oh no, hurry up and buy the dip, it's about time.
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Darah378Milivip
· 08-13 15:47
Dydx will follow slowly and continuously upwards. Those who are smart follow accumulating, as Dydx has a projection to continue evolving.
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UncleWhalevip
· 08-13 14:51
Wait for a breakthrough in the range
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LiquidationWizardvip
· 08-13 14:51
Just bought it, who cares about so much.
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PortfolioAlertvip
· 08-13 14:43
It's quite a challenge, isn't it? Too optimistic, I think.
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RunWhenCutvip
· 08-13 14:30
What are you still hesitating about? Large orders have all been moved out.
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