Technical Analysis of DYDX/USDT: Potential Breakout and Buying Opportunities
Chart Analysis Shows #DYDX Testing Fibonacci Retracement Level and Potential for New All-Time High in Upcoming Bull Run
Key Points:-
#DYDX recently broke out of a major resistance level and is trading around 250% higher than its last bottom.
A breakout from the current parallel channel is crucial, and a high-time frame candle closing above $3.30 or breaking the recent high of $3.68 would be the best entry point.
Based on chart analysis, #DYDX may test the 0.0618 Fibonacci retracement level and experience a significant upward rally.
Best buying opportunities are expected around the parallel channel support area, which is between $1.40 and $1.70.
Long-term projections suggest #DYDX could reach a new all-time high in the upcoming bull run and potentially hit $30
This is the just my opinion and not financial advice.
It is recommended to do your own research before investing in any coins.
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