It crossed the $2 resistance!

13 Nov 2022

DYDX has rallied more than 25% today, with the currency breaking through the $2 resistance. As you can see, the price trend in the daily time frame is the range, and its fluctuation range is considered between the resistance of 2.7 and the support of $1. The high buying pressure during the past few days can signify the price leaving the range trend and changing upward. Therefore, to break the ceiling of the range channel, it is very important to maintain the support of $2. There is also the potential for forming a double bottom pattern in the weekly time frame. Therefore, breaking the resistance of $2.7 and stabilizing the high price of this area can confirm the pattern and continue moving up to the resistance of $6. For the short term, the important resistance of $3 can prevent price growth while continuing the short-term price path. Therefore, in this range, there is a possibility that the trend will suffer in lower time frames.