September 30, 2021 was the first turning point in the DYDX cryptocurrency market. The first serious correction is like the first love – always unexpected and hardly predictable. Fortunately for the project, the correction took place in a calm channel without sharp movements and powerful spills of DYDX price. This fact suggests that major investors in DYDX cryptocurrency do not see any danger in the project and are willing to hold their positions in the long term.
This fact is also confirmed by the trading volumes, which decreased significantly during the correction. Yesterday, against the background of the BTC price drop, DYDX cryptocurrency reached a serious liquid level of $11.5. As we see, on the daily timeframe when approaching this price level, the trading volume began to grow, which indicates an increased interest of buyers. At the moment, an ideal signal for aggressive buying of DYDX cryptocurrency would be a retest of $12.65. Together with the $11.5 mark, these values form a strong liquid zone, which is now the last wall for buyers to form a new growth trend. The second signal for buying is when the buyers take control of the local level of $15. After fixing above this mark, mid-term investors can build up their positions on DYDX cryptocurrency. By the way, if you do not have time to follow the cryptocurrency market daily, but you want to invest here – check out our deposit management service.
DYDX cryptocurrency – forecast of growth targets
We would like to point out that our previous forecast for DYDX cryptocurrency, which we published at the end of September, worked out fine:
We were expecting a drop to $11.5 and the price of DYDX stopped at $11.43. This fact tells us that this cryptocurrency is being analyzed and forecasted, so it is time to set targets for DYDX growth.
It seems that the buyers defended the level of $11.50 and we can expect the growth in the area of $20-22.
It is in this price zone that the future of the DYDX cryptocurrency price may be resolved
There are two critical levels of $21 and $11.50, the range of trade in it is 80% – trade and earn as much as you can on the deposit), but at critical levels, you should cover your positions and look around.
Which of the two routes will decide the further price movement of the DYDXUSD in the area of critical levels:
1) a sure fixing of the price above $21-22 will open the way for growth to $50
2) fixing the price below $11.50, will open the way to the tasty zone for buying at $5-7
DYDXBTC price wants to break the falling trend
Analyzing the DYDXBTC price chart, it becomes clear that the buyers are now one step away from breaking the sellers’ trend line. The critical point for confident growth of DYDXBTC is at the 0.000273 mark. As long as this mark is under the control of the sellers, we would not expect a sharp rise in the price of DYDXBTC.