📈DYDX: Is it finally breaking out?🔥🔔
🔍DYDX is finally breaking out of its consolidation range after 672 days. The price is currently trading above the supply zone and is supported by a well-defined curve. This could be the start of a parabolic move.
✅The fixed range volume profile indicator shows that we have broken out of the high-volume zone and are ready to start moving. The SMA25 indicator is also confirming the move and is moving along with the price.
🛒The current candle is a good opportunity to buy spot. We can enter after the candle closes. The stop-loss should be placed at $2.5, which is the previous low and the POC of the fixed range volume profile.
🚀For targets, I am looking at $7.8 and then $23.7 (ATH). However, I will not place sell orders now. I will wait and see how the price reacts to these levels.
📊One positive thing about this coin is that the volume has increased significantly during the recent move. This shows that traders are paying more attention to this coin.
💥The RSI oscillator is also entering the overbought zone. This increases the chances of a parabolic move. However, with the high buying volume, we can expect this move to be upwards.
🧠💼This is not financial advice, and it is only my personal opinion on this cryptocurrency. Please do your own research before making any investment decisions.
✅The fixed range volume profile indicator shows that we have broken out of the high-volume zone and are ready to start moving. The SMA25 indicator is also confirming the move and is moving along with the price.
🛒The current candle is a good opportunity to buy spot. We can enter after the candle closes. The stop-loss should be placed at $2.5, which is the previous low and the POC of the fixed range volume profile.
🚀For targets, I am looking at $7.8 and then $23.7 (ATH). However, I will not place sell orders now. I will wait and see how the price reacts to these levels.
📊One positive thing about this coin is that the volume has increased significantly during the recent move. This shows that traders are paying more attention to this coin.
💥The RSI oscillator is also entering the overbought zone. This increases the chances of a parabolic move. However, with the high buying volume, we can expect this move to be upwards.
🧠💼This is not financial advice, and it is only my personal opinion on this cryptocurrency. Please do your own research before making any investment decisions.
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