dYdX (ethDYDX)שורט
dYdX Crypto inches Closer To An All Time Low: What's Next?
dYdX Crypto inches Closer To An All Time Low: What's Next?
The broader crypto markets crash resumed on the second day as BTC loomed below 55K, adding pressure to the altcoins.
The dYdX crypto has neared at a risk of falling to an all time low value after losing 5% in Intraday.
Bloodbath in the crypto markets resumed on the second consecutive day after the Bitcoin stepped down below the 55K in today’s trading session. The blue chip cryptocurrencies like Bitcoin and Ethereum were down nearly 2.5 to 3% at the time of writing.
In conjunction with the broader markets fall, the dYdX crypto lost traction and suffered by over 5% in intraday adding to a total of 60% in the past three months. With the recent fall the dYdX crypto has neared closer to the risk of crashing below an all time high.
The dYdX Chain operates as a proof-of-stake blockchain network, constructed using the Cosmos SDK and utilizing CometBFT for achieving consensus. The DYDX token serves as the primary protocol token for the dYdX Chain, established as such by the consensus of the dYdX community governance.
dYdX Crypto Volume And Volatility Analysis
The dYdX crypto saw the inception of its bearish phase in the April Month when the price loomed below the 200 day Exponential moving average. Since then the price could not reclaim the bullish territory and continued to slide lower.
Moreover, The volume analysis showcases that there has been a sharp rise in the transaction volume in the recent sessions. The intraday volume has surged by 214.91% to $67.318 Million a day indicating the increased seller's interest.
The volume to market capitalization ratio has surged to 9.65% indicating mild volatility in the crypto. out of a total 766.65 Million DYDX tokens, 593.5 Million tokens are currently in circulation.
Can Bulls Defend the Price From Sliding To An All Time Low?
The weakness in the broader crypto markets have put a lot of pressure on the altcoins. dYdX has crashed towards An All time low losing 18% a week and 44% a month. The dYdX crypto currently hovers below All the key exponential moving averages of 20, 50 and 200 days suggesting a bearish outlook.
Moreover, The bears seem to be dominating intraday which may drag the price below the All time low. At the time of writing, the dYdX crypto was hovering close to $1.03 with an intraday drop of 5.03%.
The RSI and 14 day SMA line have slipped below the 30 level indicating an oversold scenario. However, a bearish crossover of both the lines was observed indicating a bearish continuation in the short term.
What To Expect From dYdX Next Week?
The broader crypto market has been facing a severe downturn, with Bitcoin falling below 55K. The dYdX crypto has been hit hard, dropping over 5% today and 60% over three months. with the recent fall the DYDX has neared its all-time low. Moreover, the transaction volumes have spiked, suggesting increased selling pressure.
Now, if the selling pressure resumes, the DYDX crypto may slide to a new record low extending a bearish trend. The RSI and SMA have stepped in the oversold territory, with a bearish crossover pointing to potential further declines.
The broader crypto markets crash resumed on the second day as BTC loomed below 55K, adding pressure to the altcoins.
The dYdX crypto has neared at a risk of falling to an all time low value after losing 5% in Intraday.
Bloodbath in the crypto markets resumed on the second consecutive day after the Bitcoin stepped down below the 55K in today’s trading session. The blue chip cryptocurrencies like Bitcoin and Ethereum were down nearly 2.5 to 3% at the time of writing.
In conjunction with the broader markets fall, the dYdX crypto lost traction and suffered by over 5% in intraday adding to a total of 60% in the past three months. With the recent fall the dYdX crypto has neared closer to the risk of crashing below an all time high.
The dYdX Chain operates as a proof-of-stake blockchain network, constructed using the Cosmos SDK and utilizing CometBFT for achieving consensus. The DYDX token serves as the primary protocol token for the dYdX Chain, established as such by the consensus of the dYdX community governance.
dYdX Crypto Volume And Volatility Analysis
The dYdX crypto saw the inception of its bearish phase in the April Month when the price loomed below the 200 day Exponential moving average. Since then the price could not reclaim the bullish territory and continued to slide lower.
Moreover, The volume analysis showcases that there has been a sharp rise in the transaction volume in the recent sessions. The intraday volume has surged by 214.91% to $67.318 Million a day indicating the increased seller's interest.
The volume to market capitalization ratio has surged to 9.65% indicating mild volatility in the crypto. out of a total 766.65 Million DYDX tokens, 593.5 Million tokens are currently in circulation.
Can Bulls Defend the Price From Sliding To An All Time Low?
The weakness in the broader crypto markets have put a lot of pressure on the altcoins. dYdX has crashed towards An All time low losing 18% a week and 44% a month. The dYdX crypto currently hovers below All the key exponential moving averages of 20, 50 and 200 days suggesting a bearish outlook.
Moreover, The bears seem to be dominating intraday which may drag the price below the All time low. At the time of writing, the dYdX crypto was hovering close to $1.03 with an intraday drop of 5.03%.
The RSI and 14 day SMA line have slipped below the 30 level indicating an oversold scenario. However, a bearish crossover of both the lines was observed indicating a bearish continuation in the short term.
What To Expect From dYdX Next Week?
The broader crypto market has been facing a severe downturn, with Bitcoin falling below 55K. The dYdX crypto has been hit hard, dropping over 5% today and 60% over three months. with the recent fall the DYDX has neared its all-time low. Moreover, the transaction volumes have spiked, suggesting increased selling pressure.
Now, if the selling pressure resumes, the DYDX crypto may slide to a new record low extending a bearish trend. The RSI and SMA have stepped in the oversold territory, with a bearish crossover pointing to potential further declines.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.