- Bullish DYDX price prediction ranges from $10.91 to $25.81.
- DYDX price might also reach $30 soon.
- DYDX bearish market price prediction for 2022 is $4.33.
This dYdX (DYDX) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our DYDX price analysis and prediction.
The crypto industry was able to end the year 2021 gracefully despite the economic crisis brought by the CoronaVirus. As a result, investors from in and out of the crypto world are now closely monitoring various cryptocurrencies with potential. One of these tokens is the dYdX (DYDX), a token that provides support for the advertising industry.
Now that we’ve got some ideas about DYDX, do you think DYDX will be a profitable cryptocurrency this year? Let us find out together in this CoinQuora dYdX (DYDX) price analysis and price prediction 2022. But before we go there, let us understand first, “what is dYdX (DYDX)?”
What Is dYdX (DYDX)?
DYDX acts as a governance token that helps the community to truly oversee the dYdX Layer 2 Protocol. DYDX enables traders, liquidity providers, and partners of dYdX to work together towards an improved protocol by enabling shared control.
As a result, DYDX provides a robust ecosystem around governance, rewards, and staking that will drive future growth and decentralization of dYdX.
Now that we are fully aware of “what is dYdX (DYDX)?”, what are we waiting for? Let us now head to our DYDX price analysis and prediction for 2022.
DYDX Current Market Status
As of the time of writing this dYdX price analysis, DYDX trades at $6.96 with a 24-hour trading volume of $157,918,775. The price of DYDX has increased by 1.35% in the last 24 hours.
Furthermore, DYDX has a current circulating supply of 65,569,295.00 DYDX. Currently, the top cryptocurrency exchanges for DYDX are Binance, Huobi Global, OKEx, FTX, and Mandala Exchange.
Now, let’s proceed to the next part of this DYDX technical analysis for 2022.
DYDX Price Analysis 2022
Currently, dYdX holds 151st place on CoinMarketCap. But will the latest upgrades, developments, and changes in the DYDX blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this DYDX price prediction article.
Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for DYDX/USDT, we can deduce that the price of DYDX might remain bullish for some days since the price is consolidating at the top of the channel. However, in the long-term, the price might get bullish since top cryptocurrencies like Bitcoin and Ethereum are already getting bearish from the recent bullish run.
The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of the 1Day chart is 71.87. This shows that DYDX is showing an overbought trend since its RSI lies between 70 and 100. This value can trigger higher bullish run if more buyers reposition as the value is moving away from the 70 RSI value which is the overbought region.
From the chart above, the 90-MA is below the 30-MA which means that short-term investors would gain. However, since the gap between the two moving averages is wide and both moving averages are below the recently formed candlesticks, investors can go for the long-term to receive good rewards.
DYDX Price Prediction 2022
The chart below shows that dYdX has performed great over the past few days. Moreover, the DYDX price rose 23.1% in the last 7 days. If this trend continues, DYDX might run along with the bulls, overtaking its $8.82 resistance1 level and rise higher to $25.81 at resistance5, the 2022 bullish signal.
Conversely, if the investors turn against the crypto, the bears might take over and dethrone DYDX from its uptrend position. In simpler terms, the price of DYDX might drop to almost $4.33, a bearish signal.
Meanwhile, our long-term DYDX price prediction for 2022 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $27.78 according to CoinMarketCap this year. Moreover, that will only happen if it breaks many previous psychological resistances.
DYDX Price Prediction 2022
If this bullish trend continues, DYDX will reach $25.81 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $10.91. Then this rise will slow down, but no major falls are expected. With upcoming partnerships, and developments reaching $30 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
DYDX Price Prediction 2023
The price of DYDX can move to even great heights, however reaching $75. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency Cardano breaks past the psychological resistance level.
DYDX Price Prediction 2024
As per the latest upgrades, developments, DYDX price prediction, and new project forecasts of the platform. Moreover, this might boost the price of DYDX in the crypto market, and it will be the best investment as the price can spike and reach around $100.
DYDX Price Prediction 2025
In the next four years, DYDX prices could rise up to $150. However, reaching this level could not be so difficult for DYDX as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that DYDX has a high possibility of reaching a new ATH soon in the next four years as per the prediction.
DYDX Price Prediction 2026
In the next five years, DYDX prices could rise up to $200. However, reaching this level could not be so difficult for DYDX as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that DYDX has a high possibility of reaching a new ATH soon in the next five years as per the prediction.
Conclusion
dYdX has a bright future ahead of it in 2022. With the ongoing developments happening within the DYDX ecosystem, as well as in the overall crypto market, we may see DYDX reach new heights.
Bullish DYDX price prediction 2022 is $25.81. More so, it may even reach $30 if investors have decided that DYDX is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
FAQ
dYdX acts as a governance token that helps the community to truly oversee the dYdX Layer 2 Protocol. Its native token is DYDX.
Users can obtain DYDX tokens by purchasing them from cryptocurrency exchanges such as Binance, Kucoin, Gate.io, Kraken, or Huobi Global.
DYDX is a good investment in 2022. Moreover, DYDX has a high possibility of surpassing its current ATH at about $27.78 this year.
Yes, it’s very much possible that DYDX might reach $30 in the near future as per the current bullish trend.
dYdX (DYDX) price is expected to reach $25.81 by 2022.
dYdX (DYDX) price is expected to reach $75 by 2023.
dYdX (DYDX) price is expected to reach $100 by 2024.
dYdX (DYDX) price is expected to reach $150 by 2025.
dYdX (DYDX) price is expected to reach $200 by 2026.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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