DYDX Trades in Tight Range Amid Dominant Downtrend

DYDX has been experiencing low volatility over the past week, with its price fluctuating between $0.09 and $0.09. Despite this narrow range, the altcoin has shown some signs of recovery, with a weekly increase of 1.44%.

However, the downtrend structure is still in place, and analysts warn that Bitcoin's bearish momentum could continue to put pressure on DYDX. The RSI indicator is currently at 29.02, indicating an oversold condition, but it remains below the EMA20 level of $0.11.

The MACD histogram shows a positive signal with a bullish divergence, suggesting potential trend weakness. Market structure analysis reveals that DYDX is in an accumulation phase, characterized by low volatility and an oversold RSI. However, increased volume and higher lows are necessary for confirmation of this phase.