DYDX LongThe price is currently trading just below its All-Time Low (ATL), which may signal a potential deviation or fake breakdown. This kind of price action can sometimes lead to a recovery if the breakdown does not continue, but it also indicates the possibility that weak hands are selling, potentially driven by fear of further downside.
There are two clear take-profit (TP) levels shown:
- TP1 is around 4.500 USDT.
- TP2 is near 7.500 USDT.
If the deviation proves to be a fake-out and buyers step in, a relief rally could target these key resistance areas. However, as long as the price remains below the ATL, bearish sentiment prevails, and further downside could be expected if sellers continue to dominate.