【$DYDX Signal】Hold Cash and Wait — Weak Consolidation in a Downtrend

$DYDX Entering a weak consolidation phase in a long-term downtrend, with price suppressed below EMA20 (0.1057), lacking effective bullish reversal signals.

🎯 Direction: Hold Cash (NoPosition)

Market Analysis: The price has closed below the key support zone of 0.101-0.102 on the 4H chart, confirming that this area has turned into resistance. Although the latest 4H candlestick's buying volume ratio (0.66) has rebounded, overall trading volume has shrunk, indicating a weak rebound after an oversold condition, not a major accumulation by the bulls.

Hardcore Logic: Open interest (OI) remains stable but the price continues to decline. Coupled with a long-term buy volume ratio below 0.5, it suggests active selling pressure rather than long liquidation. The imbalance in depth (12.59%) and the thickness of buy orders show liquidity accumulation below, which is typical in a downtrend, aimed at attracting bottom-fishing traders.

Although RSI (32.37) has entered oversold territory, in a clear downtrend, relying solely on RSI oversold conditions to go long is highly risky. Funding rates are near neutral, with no signs of a short squeeze. Since the price has not broken above EMA20 and no volume-confirmed bottom has appeared, any rebound should be viewed as an opportunity to reduce positions or short.

Trading Plan: Currently, there are no high-probability resonance signals for long or short trades. Be patient and wait for two scenarios: 1) Price breaks out with volume and stabilizes above 0.105 (near EMA20) with rising OI, then consider trend-following long positions. 2) Price rebounds to the 0.105-0.108 zone (former support turned resistance + EMA20 resistance), showing stagnation, declining OI, and positive funding rates, then consider shorting on the left side. Otherwise, stay in cash and observe.

Trade here 👇 $DYDX

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