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The price of DYDX/USDT has increased by 3.73% today. And this has brought it to the second spot on the daily movers’ list. Yet, price behavior in this market still looks optimistic. To that effect, let’s take a closer look at the price action in this market.
DYDX Statistics
dYdX Value Now: $2.16
dYdX Market Cap: $343,932,875
DYDX Circulating Supply: 156,256,174
DYDX Total Supply: 1,000,000,000
dYdX CoinMarketCap Ranking: 96
Major Price Levels:
Top: $2.216, $2.300, and $2.400
Base: $2.200, $2.150, and $2.100
DYDX/USDT Is Cautiously Taking on Higher Price Marks
The DYDX/USDT price on the daily chart continues to increase while trying to be careful enough not to wake the bears. This can be seen in the price action continuing to move in an upward trend without pushing the upper band of the Bollinger Bands indicator. At this point, dYdX price action remains above the middle limit of the Bollinger Bands, and this suggests that more increases may be seen in this market.
Also, the Stochastic Relative Strength Index (RSI) lines have again picked up an upside bias while in the overbought region. This indicates that upside momentum may increase further in this market. So traders can still hold on to upside hopes.
DYDX/USDT Eyes the $2.300 Price Mark
Price movements in the DYDX/USDT 4-hour market maintain their upside focus as yet another trading session stands in favor of upside forces. Similar to what was perceived in the daily market, price action continues to proceed towards a higher mark without eliciting any reactions from the bears.
Also, the RSI indicator is still indicating that bullish momentum is on the rise. This is displayed on the RSI as its lines keep rising upward, with the leading line now in the overbought region and above the 90 mark of the indicator. Meanwhile, the lagging line has just passed the 65 level of the indicator. This shows that this market is lively and has the potential to hit the $2.350 mark.
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