$DYDX Market Update: DYDX/USDT

DYDX is currently trading around $1.594, down 1.54% in the past 24 hours.

=> The price is hovering near the 0.382 Fibonacci level ($1.5947), with key Fair Value Gap (FVG) zones to watch for potential reactions.

Target Levels:

1. $1.6395 – Immediate resistance (0.5 Fibonacci level).

2. $1.7931 – Key resistance (0.618 Fibonacci level).

3. $1.8665 – Long-term resistance level.

Stop Loss:

• $1.550 – To safeguard below recent support levels.

Trading Strategy:

• Buy Position: Enter above $1.600, take profit at $1.6395 and $1.7931, with a stop loss at $1.550.

• Sell Position: Short near $1.6395 if the price is rejected, target $1.550, with a stop loss above $1.660.

Monitor price action closely at the gray FVG zone (around $1.600) to confirm the next move. Exercise proper risk management!