DYDX Makes Stunning Recovery and Closes the Week the top Gainer

DYDX is back on the bullish track as it flipped several resistances this week. The asset was mostly dormant for an extended period of time and drifted out of the top 100s. However, it is back at this time and is currently ranked the 90th largest cryptocurrency.

Data from coin tracking platform Coinstat indicates that the coins may finish the present intraweek session as the top gainer. Currently up by more than 13%, it no doubt saw a lot of price increases. Nonetheless, data also showed that it tried retesting the $1.80 support on Wednesday. However, demand concentration at the mark thwarted the attempt.

Following the failed test, DYDX rebounded and retested a key resistance it hasn’t in almost seven days. It broke through $2 and edged towards $2.10. It advanced as high as $2.16 but failed to reach $2.20 as it experienced strong rejections at the peak.