DYM, the native token of the modular blockchain project Dymension, risks falling to its lowest price. This development comes after a 95% decline from its all-time high.
At press time, the Dymension crypto price wobbles around $0.42. Amid this decline, DYM’s trading volume has surged to the highest point since Jan. 25.
Rising market participation suggests either accumulating or succumbing to panic selling. Here’s why DYM’s price is unlikely to recover from its decline.
On March 17, the DYM’s trading volume was less than $90 million. However, the same metric has risen to $257.67 million as of this writing.
From a trading standpoint, increasing volume alongside a rising price reinforces the trend, indicating a potential for further gains.
On the other hand, a price surge with declining volume suggests weakness. However, DYM presents an entirely different scenario, especially as the trading volume has increased with the altcoin’s value declining.
This rise in volume and drop in the Dymension crypto price indicate selling pressure. If this pressure continues, the token’s value is unlikely to trade higher.
Instead, the cryptocurrency could drop to its all-time low of $0.28 seven days ago.
While the price has risen above the swing low, the Awesome Oscillator (AO) reading has remained negative. This reading indicates bearish momentum around the cryptocurrency.
If the trend continues, the Dymension crypto value could fail to trade higher.
Another look at the daily chart shows that DYM’s price, at $0.42, could drop. One of the reasons for this is the position of the Chaikin Money Flow (CMF), which measures the level of accumulation and distribution around the asset.
When the CMF is above the zero signal line, it means rising buying pressure, which could increase the price. However, the CMF has dropped to the negative region in this case, indicating rising selling pressure.
The dots of the Parabolic Stop And Reverse (SAR) is also above the Dymension crypto price, indicating resistance. Should this remain the same, DYM could slide to $0.27 — its all-time low.
If selling pressure increases, the altcoin’s value could reach a new low, potentially dropping below $0.20.
Alternatively, if demand for the token increases, the cryptocurrency could jump to $0.86. In a highly bullish scenario, the token’s value could retest the $1 mark.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
