The recent trend of $DYDX has shown some signs of rising after being stagnant for so long. Although the overall structure is still in a downward channel, this rebound has a slightly different rhythm. It's quite clear from the chart that as long as it breaks through this middle track resistance, there is a chance to touch around 1 dollar, which is the core defense position for the old bears.

During this period, I've also been keeping an eye on the on-chain activity, and the actions of the large holders are quite interesting. Addresses holding between 100,000 to 1,000,000 DYDX have been gradually increasing their positions since the end of July; while this doesn't count as aggressive buying, there hasn't been significant selling pressure, which is crucial. Additionally, the net outflow data of DYDX from exchanges showed three consecutive days of increase last week, indicating that some chips have been transferred out, likely to cold wallets for medium to long-term holding.

In the short term, the range of 0.68-0.70 is a key support level. If it can hold, there is a great chance to test towards 0.95-1 dollar;

DYDX is essentially an emotion-driven asset. Once market sentiment warms up, there is considerable room for a rebound, but until it breaks through, the rhythm still needs to be steady.