Technical analysis by Stoic-Trader about Symbol DYDX: Sell recommendation (8/6/2025)

▶️ DYDX remains stuck inside the black descending channel, and the recent breakout attempt was just a fakeout. ▶️ On the 4H chart, there are no clear signs of a reversal, so the recent upside move appears to be corrective. ▶️ The yellow zone, marked by a confluence of Fibonacci levels and mid-range resistance, is a key area to monitor for potential downside reversals on lower timeframes. ▶️ If a reversal plays out, the first target would be a retest of the 0.5200 low.