Blockchain tracking firm Lookonchain was recently spotted by a whale this morning. dYdX (DYDX) tweeted that it has sold most of its holdings. In the tweet, they stated that the whale reclaimed 570,266 tokens and soon deposited 225,833 DYDX on Bybit, a crypto exchange platform.
The price of DYDX at the time of the transfers means that the whale received about $1.26 million and sent $501,000 to the exchange platform. In addition, Lookonchain noted that this whale has a habit of depositing DYDX to sell some tokens shortly after claiming it.
CoinMarketCap noted that the altcoin had suffered a loss in the previous 24 hours. As a result, DYDX is trading at $2.17. This also resulted in a weakening of 0.48% and 1.05%, respectively, against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH).
99th largest by market cap crypto- project, DYDX, was behind Enjin Coin (ENJ) with a market cap of $352,305,550 and ahead of the 1inch network (1INCH) with an estimated market cap of $338,390,031. The crypto’s recent negative price action failed to turn its weekly performance of +2.85% into the red.
AltcoinsA bullish triangle has formed on the 4-hour chart of DYDX after the price of . The close of the current 4-hour candle will determine whether the price of DYDX will break out of the bullish pattern before it is confirmed. The next candle close below $2,164 will cause the price of DYDX to drop to $2,052.
Confirmation of this bearish thesis in the next 24 hours will be that the 9 EMA lines on the 4-hour chart cross below the 20 EMA lines. On the other hand, if the next 4-hour candle closes above the $2,164 mark, DYDX price will attempt to break past the $2,239 resistance level in the next 48 hours.