One of Santiment screeners has brought DYDX to our attention earlier today.
It was the "DAA Anomalies" screener where DYDX flashed a spike in Daily Active Addresses:
The last spike seems quite unusual indeed for a stagnant price. Bullish divergence?
Then we found an astonishing Network Growth for DYDX. Have a look at this beauty:
It's in a very strong uptrend potentially able to pick up the price, along with strong Active Addresses. Previous attempts to pump took place on even lower Network Growth.
Possible confidence markers:
- Price breaking 5.4 USD (above resistance)
- Network Growth remaining over 118 (current value)
- Active Addresses more than 380 (current level)
Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.