dYdX Price Prediction for Today, December 3, 2023 – DYDX Technical Analysis

The dYdX price prediction shows that DYDX could be ready for the uptrend as the trades near the $3.40 resistance today.

dYdX Prediction Statistics Data:

• dYdX price now – $3.37
• dYdX market cap – $629.5 million
• dYdX circulating supply – 183.7 million
• dYdX total supply – 1 billion
• dYdX CoinMarketCap ranking – #79

DYDX/USD Market

Key Levels:

Resistance levels: $4.00, $4.20, $4.40

Support levels: $2.50, $2.30, $2.10

DYDX/USD is likely to cross above the resistance level of $3.50 to increase the bullish movement. Meanwhile, the cryptocurrency might kick-start another bullish run back above the $3.40 level if the market price trades near the upper boundary of the channel. Consequently, any additional positive break to the upside is needed for the coin to press higher. Nevertheless, DYDX/USD has to break above the $3.50 level before hitting the $3.80 resistance level.

dYdX Price Prediction: dYdX (DYDX) May Gain More Upsides

Looking at the daily chart, the dYdX price is currently above the 9-day and 21-day moving averages. If the buyers continue to grind higher, the first resistance level may be located at $3.40 as this could also be followed by $3.50. However, additional resistance levels may also be found at $4.00, $4.20, and $4.40 respectively. On the other side, if the DYdX price heads toward the channel, it could hit the first support level at $3.00.

However, any further bearish movement may lead the coin to the critical support levels at $2.50, $2.30, and $2.10. The 9-day MA may need to cross above the 21-day MA, which indicates that buyers may begin to gain control of the market, and this could also mean that DYDX/USD could be pushing toward the resistance level of $3.50 soon.

DYDX/BTC May Continue With Sideways Movement

Against Bitcoin, the daily chart shows that the dYdX price is attempting to cross above the 9-day and 21-day moving averages. As soon as the price stables above this barrier, there is a possibility that additional gains could be obtained. Therefore, the next resistance level is close to the 1000 SAT level. If the price keeps rising, it could even break the 1100 SAT and above.

However, if the bears regroup slide below the lower boundary of the channel, 6500 SAT support may play out before rolling to critical support at 6200 SAT and below. Meanwhile, the 9-day MA remains below the 21-day MA, suggesting bearish movement within the channel.

Alternatives to dYdX

According to the daily chart, if buying pressure increases, the dYdX price is expected to surpass the 9-day and 21-day moving averages. Currently trading at $3.37, the bullish momentum suggests a continuation of upward movement. Traders can anticipate the coin reaching the upper channel boundary, targeting the nearest resistance level at $3.40. Meanwhile, traders are to keep an eye out for potential upward developments in the dYdX market.

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