$DYDX: Navigating the Supply Storm and Seeking Hopeful Rebounds!$DYDX has been navigating choppy waters lately, with the price action signaling a bearish trend across daily and weekly charts. The recent weekly close has dipped below crucial support levels at $1.150 and $1.00, raising concerns. Short-Term Insights:
- On the daily chart, look out for a bullish divergence in RSI, and watch for a potential double bottom pattern around $0.840 that might signal a reversal.
- On the hourly chart, the $1.00 resistance zone is on the radar for a possible retest.Summary:
While the current trend shows significant bearish pressure and broken supports, keep a close watch on the daily patterns and $0.840 support. There’s a chance for a short-term bounce, but tread carefully as the broader trend remains challenging.#DYDX #BinanceAnalysis #CryptoWatch #TradingOpportunities #DYDXUpdate