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DYDX / TetherUS

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DYDXUSDT trade ideas

DYDX - We're in the endgame now.... (Weekly & Daily TimeFrames) On The Weekly , DYDX officially in the middle of an extremely coiled up volatility squeeze. Looks like we'll have a breakout signal direction showing up soon. Consistently Rejected the upper-bound $2.26 range on the Weekly Time Frame. - 🟧 Volatility Squeeze Channel . (Gold Shaded Area) - ♦️ Red Diamonds - 📈 Red Trend-line - Yet we have a diminishing of negative volatility momentum . Looks like a retest of $1.65, the absolute lower bound of the range is in play. On the Daily we're seeing - 📈 Consistent rejections right on the red-trackline . - ♦️ Red Diamonds - 🔶 Failed Golden Diamond momentum reversals. These indicators behind the scenes perform the work of hundreds. So we're seeing negative confluence littered across an entire spectrum of categories for this asset. That being said, DYDX is still a global leading behemoth in the DEFI Perpetual space. With no slowing down. The downside we're seeing could be an opportunity for those where this fits into their portfolios appetite.
by Trinium-Labs
DYDX - We're in the endgame now.... (Weekly & Daily TimeFrames) On The Weekly , DYDX officially in the middle of an extremely coiled up volatility squeeze. Looks like we'll have a breakout signal direction showing up soon. Consistently Rejected the upper-bound $2.26 range on the Weekly Time Frame. - 🟧 Volatility Squeeze Channel . (Gold Shaded Area) - ♦️ Red Diamonds - 📈 Red Trend-line - Yet we have a diminishing of negative volatility momentum . Looks like a retest of $1.65, the absolute lower bound of the range is in play. On the Daily we're seeing - 📈 Consistent rejections right on the red-trackline . - ♦️ Red Diamonds - 🔶 Failed Golden Diamond momentum reversals. These indicators behind the scenes perform the work of hundreds. So we're seeing negative confluence littered across an entire spectrum of categories for this asset. That being said, DYDX is still a global leading behemoth in the DEFI Perpetual space. With no slowing down. The downside we're seeing could be an opportunity for those where this fits into their portfolios appetite.
by Trinium-Labs
dYdX / US Dollar (DYDXUSDT) Token Analysis 11/09/2023Fundamental Analysis: DYDX (dYdX) is the governance token associated with the layer 2 protocol of the decentralized cryptocurrency exchange that shares its name. This token plays a crucial role in facilitating the operation of the layer 2 protocol and empowers traders, liquidity providers, and partners to actively participate in shaping the protocol's future as part of the community. Token holders enjoy various privileges, including the ability to propose changes to the dYdX layer 2 protocol. They also have opportunities for profit through activities such as token staking and trading fee discounts. Leveraging the StarkEx scalability engine from Starkware, the layer 2 solution on dYdX is specifically tailored for cross-margined perpetual trading. This scaling solution enhances transaction speed, eliminates gas costs, reduces trading fees, and lowers minimum trade sizes on the platform. As an open-source platform with smart contract capabilities, dYdX serves as a versatile ecosystem for users to engage in lending, borrowing, and trading various crypto assets. While the platform does support spot trading, its primary focus lies in derivatives and margin trading. Founded in 2017, dYdX secured over $10 million in seed venture capitalist funding and officially launched in 2019. The DXDY token's initial coin offering (ICO) took place on September 9th, 2021. dYdX stands as a cryptocurrency exchange that melds advanced financial tools with the principles of decentralization. The platform offers support for margin trading, a financial product that empowers investors to amplify their exposure to digital assets through leverage. dYdX offers two distinct margin trading options: isolated margin, allowing users to allocate specific funds for a trade, and cross-margin, which utilizes all assets held by a trader on the platform. Additionally, dYdX facilitates the trading of perpetuals, a type of futures contract without a predetermined expiry date. The exchange provides a maximum leverage of 25x on synthetic assets that have no expiration date. When users deposit funds into their dYdX accounts, they immediately begin earning interest, as their assets become part of a global lending pool dedicated to each cryptocurrency. dYdX ensures the security of lenders by requiring borrowers to maintain sufficient collateral in their accounts at all times. Borrowing on dYdX enables users to swiftly acquire any available asset on the platform by using their existing funds as collateral for the loan. Unlike automated market makers such as Uniswap, dYdX employs an order book architecture. dYdX's Layer 2 solution enhances network scalability by implementing zero-knowledge rollup technology, specifically zkSTARKS. This technology generates proofs while validating a batch of transactions off-chain. These proofs are then transmitted back to the blockchain, where they are verified by a smart contract. zkSTARKS allows for the offloading of resource-intensive computations from the mainnet without compromising decentralization. In addition to trading and liquidity provider rewards, dYdX introduces retroactive mining benefits, demonstrating gratitude to historical users and encouraging their continued participation on the Layer 2 protocol. Token holders can stake their assets in dYdX's safety and liquidity pools. The safety pool serves as a safeguard in case of a shortfall event, while the liquidity pool aims to attract high-quality market makers to the platform. DYDX is an ERC-20 token that has been deployed on the Ethereum mainnet. The layer 2 scaling solution utilized by dYdX is constructed on Starkware's ZK-STARKS technology, leveraging the Ethereum blockchain to validate transaction proofs. The DYDX token was initially made available for purchase in September 2021. Antonio Juliano, a seasoned programmer with a strong background in blockchain technology, serves as the Founder and CEO of dYdX. His foray into the cryptocurrency realm began in 2015 when he secured a position as a software engineer at Coinbase, a prominent cryptocurrency exchange platform. Holding a computer science degree from Princeton University, Antonio Juliano embarked on his entrepreneurial journey and established dYdX in early 2017. Zhuoxun Yin assumes the role of Head of Operations at dYdX. His prior experience includes positions at Nimble, a social sales and marketing CRM, and Bain & Company, a renowned consulting service. Zhuoxun Yin pursued his education at the University of Queensland, where he earned a bachelor's degree in commerce. Technical Analysis: We have applied Fibonacci retracement tools, extending from $0 to its all-time high (ATH) of $27.9. Within this analysis, we have identified potential support and resistance areas on the chart based on the retracement levels. In addition to the retracement levels, we have utilized Fibonacci projection tools to delineate additional potential support areas below the previous all-time low price. This projection is based on the most recent market cycle. Consequently, we have established three potential support levels at $1.4 or 95% and $1 Defined by Price Action and $0.5 defined by Projection of the past cycle. Furthermore, we have outlined three potential price targets using the Fibonacci retracement levels from the ATH cycle. These targets are anticipated within the next few weeks to months and are as follows: First Target Price (1 TP): $4.15 Second Target Price (2 TP): $6 Third Target Price (3 TP): $10.5 These levels serve as key reference points for our analysis, guiding our expectations for future price movements. Sentiment Analysis: Considering the possibility of depreciation in the total market capitalization of cryptocurrencies and the price of Bitcoin (BTC) in the upcoming months, it is reasonable to consider employing a Dollar Cost Averaging (DCA) strategy for long positions at the specified support levels.
Long
by BitonGroup
DYDXUSDT wants the false breakout?In the landscape of the DYDXUSDT trading pair, a notable development has surfaced with the price currently testing the daily resistance. This testing phase is transpiring within the context of both a triangle pattern and a descending channel. These patterns offer valuable insights into the market's current dynamics and potential future movements. The triangle pattern signifies a convergence of the price's highs and lows, resulting in a narrowing price range over time. Simultaneously, the descending channel further characterizes the market's behavior, showcasing a sequence of lower highs and lower lows within a defined channel structure. Of particular interest is the possibility of the price capitalizing on the false breakout that transpired in the $2.3 area. False breakouts, where the price briefly breaches a key level before reversing, can lead to a liquidity grab as traders' positions are triggered, potentially resulting in a swift price movement. Following Plancton's rules, this scenario might align with a new short position opportunity. Plancton's approach emphasizes the importance of confirmation and adherence to specific criteria before entering trades. To align with Plancton's rules, traders are encouraged to: Confirmation: Wait for a clear and sustained breakdown below the support level of the triangle or descending channel. This confirmation involves ensuring that the price remains below the level and is supported by factors like increasing volume. Technical Indicators: Utilize technical indicators such as moving averages, oscillators, and trend confirmation tools to assess the strength of the potential breakdown. Risk Management: Implement effective risk management strategies, including setting appropriate stop-loss levels and considering position sizing. This helps manage potential losses in case the market movement doesn't align with expectations. Patience: Exercise patience and wait for a definitive confirmation before entering a trade. False breakouts can lead to losses, so caution is paramount. Market Context: Consider the broader market context, news, and events that could influence the price movement of DYDXUSDT. In summary, the DYDXUSDT trading pair is currently engaged in testing the daily resistance within the confines of both a triangle pattern and a descending channel. The potential for a new short position based on the premise of liquidity grab from the false breakout is in line with Plancton's rules. However, thorough analysis, careful execution, and risk management are crucial components of making informed trading decisions within this context. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
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