#DYDX🔔
4-hour chart analysis of #DYDX, highlighting:
*Current Situation:*
1. *Support Zone:* DYDX is testing a key support zone at $0.56.
2. *Weak Bottom:* A weak low is forming, potentially indicating a reversal point if price consolidates above.
*Bullish Scenario:*
1. *Breakout:* Above $0.70.
2. *Potential Targets:*
1. $0.90
2. $1.10
3. $1.30
4. $1.70
*Bearish Scenario:*
1. *Breakdown:* Below $0.53.
2. *Potential Targets:*
1. $0.45
2. Possible continuation of decline
*Trading Strategy:*
1. Monitor price action around the support zone ($0.56) and resistance level ($0.70).
2. Look for a breakout above $0.70 for potential long positions or a breakdown below $0.53 for potential short positions.