Altcoin Update: DYDX Analysis DYDX is trading below the 200 | MYC Signals

Altcoin Update: DYDX Analysis

DYDX is trading below the 200-day MA for the first time in almost four months. So far in May, it’s down a little over 24.7%, and with the current slump in the crypto market, the bear run could persist in the medium term.

For now, we’re cautiously bearish on DYDX with our entry just below its 2-month lows, around 1.86. However, a push above 2.0 could propel DYDX back above the 200-day MA.

These are our key levels

R1 2.05
R2 2.2
R3 2.35
R4 2.5

S1 1.86
S2 1.7
S3 1.59
S4 1.5

https://www.tradingview.com/x/GhKHBk8X/