$DYDX Daily Chart Breakdown
Price is still under heavy pressure, with price sitting at $0.563 after failing to reclaim key moving averages.
🔎 TECHNICAL ANALYSIS :
🔻 Price peaked at $1.48 in March, now down over 60%
💔 Still trading below the 200MA ($0.993) — long-term bearish structure
🟣 99MA ($0.63) and 💗 25MA ($0.632) acting as dynamic resistance
🔄 Local support near $0.49 — break below could trigger another leg down
Momentum is weak, and every bounce is being sold into — classic signs of a distribution phase.
🌎 Macroeconomic Pressures:
📉 Risk-off sentiment as U.S. job market shows signs of cooling
🤑 Traders are rotating back into USD and US Treasuries as yields tick up
💡 Crypto liquidity is thinning, and speculative DeFi tokens like #DYDX are feeling the brunt
On top of that, token unlocks and poor tokenomics are adding sell pressure.
📌 What to Watch:
If DYDX can't hold above $0.55–$0.49, expect a deeper breakdown
A bullish reversal requires a daily close above $0.63, reclaiming the 25/99 MA zone
For now, trend remains bearish — this is a wait-and-see zone, not a chase
📉 #DYDX is still trapped in a macro downtrend. Until structure changes or broader sentiment shifts, caution is key.