DYDX Price Prediction: DYDX finds support at $24, higher prices to follow?

DYDX price analysis

TL;DR Breakdown

  • The DYDX price prediction is bullish for today, up by 1% in the past 24 hours.
  • The price action found support at $24, the nearest resistance being at $26.6.
  • The highest price today was $25.1, the lowest being at $22.5.

The DYDX price prediction for today is bullish as the entire crypto market is experiencing price surges. The biggest gainers today include Binance Coin (BNB), VeChain (VET), and Solana (SOL). Talking about the kind of cryptocurrencies, we saw BTC rise by 10 percent. This movement breathed life in the entire crypto market that was experiencing a bearish trend in September.

The data by Coinmarketcap shows that the price of the coin saw a huge drop in trading volume in the last 23-hours. The volume is at 919 million USD, a 49.44 percent drop from the day before. On the other hand, the market capitalization of DYDX dropped by 7.54 percent and is at 23 billion USD.

The market opened today with a price of $23.588 for today and is currently at $23.532. The highest price for today was seen at $25.129, while the lowest price seen was $22.5. But the bulls pushed the price closer to the support at $24. This means that this support level might hold.

DYDX price movement in recent days

In recent days, DYDX has performed incredibly well. The coin was listed on Binance on 9th September, and this saw a price surge from 3 USD to a high of $16.435. The very next day, the price dropped by 19.53 percent. Another notable bullish movement was witnessed on 16th September, when the bulls pushed the price from $11.6 to 15.3 USD, a surge of more than 32 percent.

Furthermore, on 26th September, the price of the DYDX token rose by over 38 percent, i.e., from 13.9 USD to 19.3 USD. On 29th September, another surge of 18 percent was witnessed. On the last day of September, the price fell by 11.95 percent. Thus, the market sentiment for the DYDX price prediction remains favorable.

DYDX price prediction: Technical indicators remain bullish

The technical indicators for the DYDX price prediction remain bullish as the price is above the 50-day and 100-day Moving Averages. It is likely that the support at $24 will hold, and the coin won’t fall below these key Averages.

The bulls attempted but, failed to break out of the Bollinger Bands’ upper end, but the movement is still situated in the upper end. This means that the bulls haven’t given up for now.

DYDX price prediction
DYDX price prediction on the chart by TradingView

The RSI levels are returning towards the neutral zone as the gradient is sharply negative. Although the line is still in the bullish region, the gradient shows that lower prices are coming.

The MACD indicator shows a bearish crossover in the 4-hour chart as the signal line is above the MACD or blue line. This makes the DYDX price prediction bearish.

DYDX Price Prediction: DYDX finds support at $24, higher prices to follow? 1
DYDX price prediction on the chart by TradingView

DYDX price prediction

The DYDX price prediction can be concluded on a bearish note for today, and the indicators show that bulls are gradually losing hold of the price action. If similar situations continue, we might see the support at $24 get broken. But, in case of Bitcoin breaches the $50K level, DYDX price prediction will change to bullish.

Additionally, if you are interested in holding, please have a look at major price predictions for the coming years too.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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