dYdX (ethDYDX) Price Prediction 2024-2030: Will DYDX Price Reach $10 Soon?

• The bullish DYDX price prediction ranges from $4.09 to $5.13.
• DYDX price might also reach $7 in 2024.
• DYDX’s bearish market price prediction for 2024 is $1.078.

dYdX’s mission is to democratize access to financial opportunities for various individuals by implementing advanced technology. As part of its mission, dYdX hopes to become a new-generation exchange and empower traders across the world by providing a rich set of advanced tools and products on its platforms.

By integrating the decentralization and security benefits of Starkware zero-knowledge proofs, dYdX claims to be building a “powerful and professional” platform. Moreover, it is evident that the dYdX Layer 2 Protocol plays a vital role in dYdX’s success. The governance token of dYdX, DYDX, allows the community to govern the Layer 2 protocol.

Since DYDX plays a crucial role in the Layer 2 protocol, it is natural that traders would be curious about the altcoins‘ sentiment. Read this Coin Edition’s price prediction article to find out about DYDX’s price analysis and forecast for 2024, 2025, 2026, 2027, 2028, and until 2050.  

What is dYdX (ethDYDX)?

DYDX is a governance token that allows the community to govern the dYdX Layer 2 Protocol. With DYDX, the community can easily contribute to the protocol’s future and make decisions about the operation of Layer 2. Apart from the governance features, DYDX also allows users to gain rewards and stakes, which further promotes the growth and decentralization of its ecosystem. ethDYDX is currently undergoing a migration from Ethereum to dYdX Chain. 

The Layer 2 protocol of dYdX was built based on StarkWare’s StarkEx scalability engine and dYdX’s perpetual smart contracts. One of the key features mentioned on the website is that traders’ can expect significantly lower gas costs, lower trading fees, and minimum trade sizes. Moreover, the full integration of StarkWare’s dYdX integration combines STARK proofs for data integrity with on-chain data availability, thus ensuring a fully non-custodial protocol.

Furthermore, dYdX defines itself as the developer of a leading decentralized exchange on a mission to build open, secure, and powerful financial products. It allows users to lend, borrow, and trade crypto assets, and the platform’s main product is derivatives and margin trading.

Apart from derivatives and margin trading, dYdX also offers many other products, such as a robust web app and mobile application that allow users to easily trade. 

dYdX also created a new NFT collection called the Hedgies, which focuses on “celebrating traders.” The Hedgies are meant to be distributed to voters, traders, and the crypto community and promote trading activity. dYdX is still continuing to build and develop its platform to enhance its users’ trading experience.

dYdX (ethDYDX) Current Market Status

At the time of writing, DYDX is now trading at $3.13 with a total market capitalization of $968,048,474. DYDX sits at 75th place on CoinMarketCap in terms of market capitalization. Moreover, there has been a price change of 9.19% in the past 24 hours. DYDX’s 24-hour trading volume is $146,402,809, with a rise of 55.53%. 

DYDX can be traded on major cryptocurrency exchanges such as Binance, OKX, KuCoin, Bybit, and MEXC.

dYdX (ethDYDX) Price Analysis 2024

Will DYDX’s most recent improvements, additions, and modifications help its price rise? Moreover, would the changes in the blockchain industry affect DYDX’s sentiment over time? Read more to find out about DYDX’s 2024 price analysis.

dYdX (ethDYDX) Price Analysis – Bollinger Bands

The Bollinger Bands are a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilize the time period and the standard deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean. 

The Bollinger bands have been expanding, signaling market volatility. It was noticed that the volatility increased during mid-October 2023. The expansion was triggered by the candlesticks hitting the upper band of the Bollinger Band. However, after the candlestick broke beyond the upper band, it faced a price correction, which reduced the altcoin’s value, making it fall below several minor support levels. The price correction procedure put the altcoin in the bottom half of the indicator. Despite the downfall, the recent candlesticks have once again climbed up to the top-half of the Bollinger Bands. 

dYdX (ethDYDX) Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is regarded as an overbought region, and traders expect the price to fall soon.

The RSI is currently valued at 58.75 after almost touching the 60 level. If the buyers rally to the altcoin side, there may be a chance that the indicator will break beyond the 60 level, which could be considered a potential uptrend area. Additionally, the candlesticks have once again climbed back to the top-half of the RSI bands with the recent formation of the positive candlesticks. 

dYdX (ethDYDX) Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will make the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at the 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. MACD plays an important role as it can confirm trends and identify potential reversals.

The MACD indicator highlights that the altcoin is currently experiencing a surge in the market as the green bars are forming on the histogram. Moreover, the MACD line also continued to climb up after making a bullish cross on the indicator. Hence, there may be a chance the altcoin could be experiencing a surge over the coming days.

dYdX (ethDYDX) Price Prediction 2024

Before making a price jump, the altcoin was consolidating near the $1.80 and $2.43 areas. After a few days of consolidation, the candlesticks jumped above the said resistance level and broke above the $2.5 level. 

The candlesticks also broke out above $3 during its massive surge. However, after being experienced by the bulls, the bears came and took power in the market, creating a decrease in its value. Meanwhile, the recent indicators in the market reveal the presence of bulls in the market. This could once again push the price of altcoins to new heights.

After expecting a bullish period in DYDX’s market, there may be a chance that DYDX could reach the $4 level soon. Furthermore, the buyers and the latest developments could influence a surge in this market and break beyond even more minor resistance levels. With the anticipation of extreme bullishness, DYDX could also reach beyond $6 in 2024.      

dYdX (ethDYDX) Price Prediction 2024 – Resistance and Support

Looking at the above chart, the altcoin is below the first major resistance and has a long way to go before recovering to its highest point. Additionally, if the altcoin shows a potential extreme bullish sentiment, it could reach new heights and cross the first level of resistance. If the buyers continue to push the altcoin price, it could reach 2022’s critical support region.

dYdX (ethDYDX) Price Prediction 2025

DYDX could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, DYDX will continue to rise in 2025, forming new resistance levels. It is expected that DYDX will trade beyond the $13 level.

dYdX (ethDYDX) Price Prediction 2026

It is expected that after a long period of bull runs, the bears will come into power and start negatively impacting cryptocurrencies. During this bearish sentiment, DYDX could tumble into its support region of $15. Moreover, when DYDX remains in the oversold region, there could be a price correction soon. DYDX, by the end of 2026, could be trading beyond the $18 resistance level after experiencing the price correction.

dYdX (ethDYDX) Price Prediction 2027

Naturally, traders expect bullish market sentiment after the crypto industry was negatively affected by the bears’ claw. DYDX is expected to rise after its slumber in the bear season. Moreover, DYDX could even break more resistance levels as it continues to recover from the bearish run. Therefore, DYDX is expected to trade at $22 by the end of 2027.

dYdX (ethDYDX) Price Prediction 2028

Once again, the crypto community is looking forward to this year, as there will be a Bitcoin halving. Like many altcoins, DYDX will continue to form new higher highs and is expected to move on an upward trajectory. Hence, DYDX would be trading at $26 after experiencing a massive surge by the end of 2028.

dYdX (ethDYDX) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, DYDX could be trading at $29 by the end of 2029.

dYdX (ethDYDX) Price Prediction 2030

After witnessing a bullish run in the market, DYDX and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, DYDX could be trading at $32.

dYdX (ethDYDX) Price Prediction 2040

The long-term forecast for DYDX indicates that this altcoin could reach a new all-time high (ATH). This would be one of the key moments, as hodlers may expect to sell some of their tokens at the ATH point. However, DYDX may face a slight fall before starting its upward journey once again. It is expected that the price of DYDX could reach $58 by 2040.

dYdX (ethDYDX) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, DYDX could surpass the resistance level of $74.

Conclusion

To summarize, if investors continue to show interest in DYDX and add these tokens to their portfolio, then it could continue to rise. DYDX’s bullish price prediction shows that it could pass beyond the $6 level. Moreover, DYDX could surpass the $74 level by the end of 2050. 

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