DYDX: Easy 2025 Target @$6.22 —But Wait, Much Higher Is PossibleSome projects produced a very strong bullish wave to end 2024. Other projects didn't do much.
We have pairs that are now very close to their All-Time High.
Some other pairs are trading at, or very near to, an All-Time Low.
I think this is why it is so very important to consider each chart individually. We can have a general market perspective and develop a general bias, but when it comes to trading, buying and selling, each pair needs to be considered on its own.
DYDXUSDT recently hit a new All-Time Low. This is not bad. Actually, this is very good.
A pair like this we can buy without reservation because the downside is very limited, especially when the next advance is fully confirmed.
As for the 2025 bull-market top, we say that higher lows lead to higher highs. A lower low can lead to a lower high, that is, no new All-Time High in 2025.
When a project's chart looks like this one we become more conservative with the final target.
Not that a new ATH won't happen but that weakness has been revealed and we work with this information.
The bottom for DYDX is likely in. We have the same volume dynamic as mentioned in a previous publication; a lower low with decreasing volume. On this chart, bull volume is predominant and this is a signal of strength.
The final flash-crash seems like a shakeout move; the market looking for liquidity by breaking support. This thinking would be reinforced if a strong and fast recovery were to happen in the coming weeks and days. If the price remains low and trades lower for a while before recovering then we have to go with the weakness theory.
My belief is that DYDX will recover and it will grow super strong in the coming months.
If I had to make a prediction for a final target, I would say $18-19 is possible. The target mapped on the chart is an easy one and amounts to ~700%.
Thank you for reading.
After the bull-market starts to unravel, many pairs will move ahead of the pack and reveal what will be coming to the rest of the market. At that time, we can update our peak numbers and make more accurate predictions.
It is still too early, but we know the bull-market will be huge. The fact that the top Cryptos are not dropping and have been consolidating for months near resistance means that the market is not ready to sell. If the market isn't selling it is because it sees value in what it holds. If the whales and exchanges are ready to hold, this means that they are going to pump this market like never before.
Namaste.
