$DYDX enters a narrow range after a decline, with price action showing a consolidation during a downtrend. On the 4H timeframe, small-bodied candles appear consecutively, trading volume contracts, but the Buy/Sell Ratio remains below 0.52, indicating very weak buying interest. Open interest (OI) remains stable, combined with a positive funding rate but a downward price movement, forming a typical "bulls do not die, bears do not stop" pattern. Sell orders are heavily stacked in the 0.112-0.115 range, creating a strong resistance.

🎯Direction: Short (NoPosition)

The current structure is bearish, but there is no clear trigger for a short position. The price needs to effectively break below the 0.108 support level with an increase in OI to confirm the resumption of the downtrend. Until then, it remains a balanced zone between bulls and bears, with a poor risk-reward ratio, so it is advisable to stay on the sidelines.