Market Overview for dYdX (DYDXUSDT) as of 2025-08-25 12:00 ET

• dYdX (DYDXUSDT) opened at $0.6779 and closed at $0.6312 after a volatile 24-hour session with a high of $0.7026 and a low of $0.6303.

• A sharp bearish reversal unfolded during the day, marked by a long upper shadow on the candle around 19:45 ET and a large-volume sell-off afterward.

• The price consolidated below key 20- and 50-period moving averages, suggesting short-term bearish momentum and potential for further downside.

• Volume surged during the afternoon sell-off but waned in the final hours, hinting at exhaustion or a potential short-term bottoming process.

• RSI and MACD both signaled bearish momentum, with RSI hitting oversold territory, but without a clear rebound, caution is warranted.

dYdX (DYDXUSDT) opened at $0.6779 on 2025-08-24 12:00 ET and closed at $0.6312 the following day. The price reached a high of $0.7026 and a low of $0.6303. Total 24-hour trading volume was approximately 7.26 million units, with a notional turnover of $4.2 million, reflecting high volatility and participation.

Structure & Formations

Price action revealed a strong bearish reversal pattern during the late afternoon hours, particularly between 18:45 and 20:30 ET. A large-volume candle at 19:45 ET (volume: 1.08M) had a long upper shadow and closed near its session low. This pattern, coupled with a long green candle in the early morning hours, suggests a potential short-term consolidation or bottoming process. Key support levels may form near the 0.659–0.662 cluster, while the 0.675–0.678 zone appears to act as resistance.

Moving Averages

On the 15-minute chart, price has been below both the 20- and 50-period moving averages throughout the session, reinforcing a bearish bias in the near term. The daily chart indicates the price is well below the 50, 100, and 200-day moving averages, signaling a medium-term downtrend.

MACD & RSI

The MACD turned deeply negative after the sell-off in the late afternoon, with the histogram expanding in bearish territory. RSI has pushed into oversold territory (below 30), which can signal a potential bounce. However, the lack of a clear rebound in the last few hours suggests that bearish momentum may not yet be exhausted.

Bollinger Bands

Volatility expanded significantly during the sell-off, with the bands widening past the morning’s narrow consolidation phase. Price traded near the lower Bollinger Band in the final hours of the session, particularly between 03:00 and 11:45 ET. This may indicate overselling, but without a follow-through move to retest the upper band, the bearish bias remains intact.

Volume & Turnover

The most significant volume spike occurred at 19:45 ET, with 1.08 million units traded, coinciding with a sharp price drop of over 10%. However, volume declined sharply in the final hours of the session, even as price continued to trend lower. This divergence may suggest a temporary pause or potential bottoming structure, though further confirmation will be needed.

Fibonacci Retracements

Applying Fibonacci retracement levels to the key swing from $0.672 to $0.7026, the 61.8% level is approximately $0.685. The price failed to hold this level and dropped below the 50% retracement at $0.687. The recent low of $0.6303 is below the 38.2% and 61.8% levels of the daily swing, suggesting further bearish pressure could materialize.

Over the next 24 hours, dYdX may test the $0.65–0.66 support zone, but a sustained rebound above $0.675 could indicate a reversal. Investors should remain cautious due to the bearish momentum and lack of clear confirmation of a bottom.