dYdX (DYDX) Price Prediction 2023 – Will DYDX Hit $4 Soon?
Bullish DYDX price prediction is $1.633 to $5.430.
The DYDX price will also reach $4 soon.
DYDX bearish market price prediction for 2023 is $1.015.
In dYdX (DYDX) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about DYDX to analyze the future movement of the cryptocurrency.
dYdX (DYDX) Current Market Status
Current Price
$1.21
24 – Hour Trading Volume
$44,739,472
24 – Hour Price Change
5.3% up
Circulating Supply
143,821,947
All – Time High
$27.86 (On September 30, 2021
dYdXCurrent Market Status
(Source: CoinGecko)
What is dYdX (DYDX)?
dYdX (DYDX) is a decentralized exchange platform for cryptocurrency margin trading for assets like BTC, ETH, SOL, DOT, and some more crypto assets. Furthermore, the hype around dYdX has intensified because the exchange finally presents a clear decentralized to perpetual exchange BitMex, FTX, and Bitfinex.
dYdX is a brilliantly executed decentralized crypto derivatives exchange with a plethora of margin trading and perpetual for everyone. Besides having a clever name, dYdX has filled a compelling niche within the crypto trading realm.
dYdX (DYDX) Price Prediction 2023
dYdX (DYDX) holds the 151st position on CoinGecko right now. DYDX price prediction 2023 is explained below with a daily time frame.
DYDX/USDT Horizontal Channel Pattern (Source: Tradingview)
The above chart of dYdX (DYDX) laid out the Horizontal channel pattern, also known as the sideways trend. In order to indicate how the price is constrained between the upper line of resistance and lower line of support, horizontal channels are trend lines that join changeable price highs and lows.
Currently, dYdX (DYDX) is at $1.16. If the pattern continues, the price of DYDX might reach the resistance level of $2.627 and $5.430. If the trend reverses, then the price of DYDX may fall to $1.015.
dYdX (DYDX) Support and Resistance Levels
The chart below shows the support and resistance levels of dYdX (DYDX).
DYDX/USDT Support and Resistance Level (Source: Tradingview)
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of dYdX (DYDX).
Resistance Level 1$2.369Resistance Level 2$4.280Support Level 1 $1.481Support Level 2$1.021dYdX Resistance & Support Level
The charts show that DYDX has performed a bullish trend over the past month. If this trend continues, DYDX might run along with the bulls overtaking its resistance level at $4.280.
Accordingly, if the investors turn against the crypto, the price of the DYDX might plummet to almost $1.021, a bearish signal.
dYdX (DYDX) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of dYdX (DYDX) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of DYDX lies below the cutoff line, indicating weak participants in the current trend.
DYDX/USDT RVOL, MA, RSI (Source: Tradingview )
Moreover, the Moving Average (MA) of dYdX (DYDX) is shown in the above chart. Notably, the DYDX price lies below 50 MA (short-term), so it is entirely in a downward trend.Currently, DYDX is in a bearish state. There is a possibility of a reversal trend of DYDX at any time.
Meanwhile, the relative strength index (RSI) of the DYDX is at a level of 41.86. This means that DYDX is in a nearly oversold state. However, this gives confidence to the traders to trade without any fear.
dYdX (DYDX) Price Prediction 2023 — ADX, RVI
Let us now look Average Directional Index (ADX) of dYdX (DYDX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
DYDX/USDT ADX, RVI (Source: Tradingview )
The above chart represents the ADX of dYdX (DYDX). Currently, DYDX lies in the range of 44.194, so it indicates a strong trend.
From the above chart, the Relative Volatility Index (RVI) of dYdX (DYDX). RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of DYDX lies above 50, indicating high volatility. In fact, DYDX’s RSI is at 41.86, thus confirming a potential sell signal.
Comparison of DYDX with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and dYdX (DYDX).
BTC Vs ETH Vs DYDX Price Comparison (Source: Tradingview)
From the above chart, we can interpret ETH, BTC, and DYDX are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and DYDX also increase or decrease respectively.
dYdX (DYDX) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of dYdX (DYDX) between 2024 and 2030.
dYdX (DYDX) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, dYdX (DYDX) might probably attain $5 by 2024.
dYdX (DYDX) Price Prediction 2025
With several upgrades in the network, dYdX (DYDX) might enter a bullish trajectory. If the coin grabs the attention of major investors, DYDX might rally to hit $7 by 2025.
dYdX (DYDX) Price Prediction 2026
If dYdX (DYDX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, DYDX would rally to hit $9.
dYdX (DYDX) Price Prediction 2027
If dYdX (DYDX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, DYDX would rally to hit $12.
dYdX (DYDX) Price Prediction 2028
If dYdX (DYDX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, DYDX would rally to hit $15.
dYdX (DYDX) Price Prediction 2029
If dYdX (DYDX) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2029, DYDX would hit $18.
dYdX (DYDX) Price Prediction 2030
If investors flock in and continue to place their bets on dYdX (DYDX), it would witness major spikes. DYDX might hit $20 by 2030.
Conclusion
With continuous improvements in the dYdX network, we can say that 2023 is a good year for DYDX. For this reason, the bullish price prediction of dYdX (DYDX) in 2023 is $5.430. On the other hand, the bearish price prediction of dYdX (DYDX) for 2023 is $1.015.
Furthermore, with the advancements and upgrades in the dYdX ecosystem, the performance of dYdX (DYDX) might hit $4 gaining investors’ attention. It would also rise to reach above its all-time high (ATH) of $27.86 in the near future.
FAQ
dYdX (DYDX) is a decentralized exchange platform for cryptocurrency margin trading for assets like BTC, ETH, SOL, DOT, and some more crypto assets.
dYdX (DYDX) has been listed on many crypto exchanges which includeBinance, Kucoin, Kraken, Bitstamp, and Gate.io.
With the ongoing developments and upgrades within the dYdX platform, dYdX (DYDX) has a high possibility of reaching its ATH soon.
On Sep 30, 2021, dYdX (DYDX) reached its new all-time high (ATH) of $27.86.
dYdX (DYDX) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of dYdX in the past few months, DYDX is considered a good investment in 2023.
dYdX (DYDX) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then dYdX (DYDX) will hit $4 soon.
dYdX (DYDX) price is expected to reach $5 by 2024.
dYdX (DYDX) price is expected to reach $7 by 2025.
dYdX (DYDX) price is expected to reach $9 by 2026.
dYdX (DYDX) price is expected to reach $12 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Filed under: Bitcoin - @ January 7, 2023 2:00 pm