The dYdX crypto continues to face strong bearish pressure as it trades at $0.559, down over 4.82% from its March peak of $1.48.

With a daily trading volume of around $15.7 million, market sentiment remains cautious.

For those looking ahead, explore our full dYdX Price Prediction to understand if a reversal could happen in 2025.

Technical Breakdown: Still Bearish Below Key Levels

According to Crypto Sat, dYdX is struggling to recover after multiple failed attempts to reclaim crucial moving averages.

It’s still trading below the 200-day moving average (MA) at $0.993, signaling a long-term bearish trend.

Short-term resistance levels are seen at the 25MA ($0.632) and 99MA ($0.63), both acting as dynamic ceilings that bulls haven’t been able to overcome.

Local support lies at $0.49, and if this breaks, a deeper drop could be expected. Momentum is weak, and each bounce has been met with heavy selling, typical of a distribution phase.

Macro Pressures Add to the Strain

U.S. macroeconomic indicators — like a cooling job market and rising Treasury yields, are creating a risk-off environment.

As a result, capital is rotating into USD and safer assets, draining liquidity from speculative DeFi projects like dYdX.

Adding to the pressure are token unlocks and weak tokenomics, increasing sell-offs from holders.

What Comes Next?

If dYdX fails to hold the $0.55–$0.49 support range, the downtrend may continue. A bullish reversal would require a daily close above $0.63 to flip momentum.

Until that happens, traders are advised to remain cautious — dYdX remains trapped in a macro downtrend.