Upcoming Rally
There are 4 times test of Zone Support 1.[/I] in 4h chart, it seems holds well for now.
If DYDX can break the Upper Trend Line[/I] and stand above 24 dollars, we would see another coming rally like the GREEN ARROW .
As the blue vertical line shows in Oct 7, there is very noticeable small trading Volume, and didn't break the previous Low, and MACD line is going up through Signal line,
I think it might be an early sign of down trend ends in a period of time.
If DYDX failed to break the Upper Trend Line[/I], then it could go side ways, even retest the Zone Support 1[/I]
Once it breaks the support as RED ARROW shows, we will need to see if grey Zone Support 2.[/I] can hold, about 18 dollars.
18 dollars support Level has never been tested after the breakthrough since Sep 26, which I think in the next correction, it is very likely to be tested.
(Personally if the price dropped down to this level in short time, I will buy some more.)
11-12.5 dollars seems to be a strong support cause the volume and the times it been tested.
I think now Green Arrow scenario is more likely to happen.
Not Financial advice
Happy trading
If DYDX can break the Upper Trend Line[/I] and stand above 24 dollars, we would see another coming rally like the GREEN ARROW .
As the blue vertical line shows in Oct 7, there is very noticeable small trading Volume, and didn't break the previous Low, and MACD line is going up through Signal line,
I think it might be an early sign of down trend ends in a period of time.
If DYDX failed to break the Upper Trend Line[/I], then it could go side ways, even retest the Zone Support 1[/I]
Once it breaks the support as RED ARROW shows, we will need to see if grey Zone Support 2.[/I] can hold, about 18 dollars.
18 dollars support Level has never been tested after the breakthrough since Sep 26, which I think in the next correction, it is very likely to be tested.
(Personally if the price dropped down to this level in short time, I will buy some more.)
11-12.5 dollars seems to be a strong support cause the volume and the times it been tested.
I think now Green Arrow scenario is more likely to happen.
Not Financial advice
Happy trading
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