$DYDX Daily Chart Breakdown
Price is still under heavy pressure, with price sitting at $0.563 after failing to reclaim key moving averages.
๐ TECHNICAL ANALYSIS :
๐ป Price peaked at $1.48 in March, now down over 60%
๐ Still trading below the 200MA ($0.993) โ long-term bearish structure
๐ฃ 99MA ($0.63) and ๐ 25MA ($0.632) acting as dynamic resistance
๐ Local support near $0.49 โ break below could trigger another leg down
Momentum is weak, and every bounce is being sold into โ classic signs of a distribution phase.
๐ Macroeconomic Pressures:
๐ Risk-off sentiment as U.S. job market shows signs of cooling
๐ค Traders are rotating back into USD and US Treasuries as yields tick up
๐ก Crypto liquidity is thinning, and speculative DeFi tokens like #DYDX are feeling the brunt
On top of that, token unlocks and poor tokenomics are adding sell pressure.
๐ What to Watch:
If DYDX can't hold above $0.55โ$0.49, expect a deeper breakdown
A bullish reversal requires a daily close above $0.63, reclaiming the 25/99 MA zone
For now, trend remains bearish โ this is a wait-and-see zone, not a chase
๐ #DYDX is still trapped in a macro downtrend. Until structure changes or broader sentiment shifts, caution is key.
