dYdX (DYDX) Trades Above the $2.200 Price Mark

The DYDX price has gone up by 6.56% today. Consequently, this brings this crypto to trade above the $2.200 price mark. Going by indications arising from technical indicators, this market has a fair chance of recording more profits.

dYdX Statistics:
DYDX Value Now: $2.211
DYDX Market Cap: $345,974,413
dYdX Circulating Supply: 156,256,174
DYDX Total Supply: 1,000,000,000
dYdX CoinMarketCap Ranking: 90

Major Price Levels:
Top: $2.211, $2.300, and $2.400
Base: $2.200, $2.150, and $2.100

DYDX Pops Through the Price Ceiling at the $2.200 Mark

Price activity in the DYDXUSDT daily market has crossed the $2.200 price mark and seems to have enough steam to keep going. The last price candle here rebounded off the support at the 21-day SMA line. This brought the token out of trading inside the $2.050 and $2.125 price ranges. At this point, price action is now testing the 38.30 Fibonacci Retracement level.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator curves are steadily rising above the equilibrium level. The appearance of the MACD histogram bars also portrays that buyers possess healthy momentum and may extend the upside retracement.

dYdX Is Eyeing the $2.250 Resistance Price Mark

In the dYdX 4-hour market, a new session has begun above the $2.200 price threshold. Consequently, this maintains that price action is already eying a nearby resistance at the $2.250 price mark. Also, it should be noted that this is happening significantly above the SMA lines, which offers a strong bullish tone to this market.

Likewise, the MACD indicator seems to have just delivered a bullish crossover above the equilibrium level. Consequently, this suggests that the price will move towards the $2.350 price mark as traders gather more momentum in this market.

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