- MDEX coin price is currently trading in a downtrend and can hit a low below $1. In contrast, it has seen a loss of more than 3% in the intraday session
- Technical indicators for MDX coin suggest consolidation momentum for the future . Meanwhile, the MDX/BTC pair is also seeing a downtrend in the future.
Why Invest In MDX Coin?
MDX coin is currently trading in a downtrend and can hit a new low in the upcoming days. MDEX price is currently trading near the value of $1.12 and has observed a loss of 3.39% in the intraday session.MDEX is an automated market making (AMM) which is working towards the decentralization of assets. The platform has various similarities with DEX but it also differentiates itself by using the Dual chain model on both Ethereum and Huboi Ecological chain models. MDX also benefits from the liquidity of ETH and super low transaction fee HECO. It is currently dominating the DEX market with the volume. MDX coin price is currently in a slump but can soon see revert back to the uptrend. MDX/BTC pair can also observe a strong uptrend in the future. One can invest in MDX as per their risk capacity and positive breakout.
Technical Indicators Suggests A Consolidated Momentum For MDX Coin
The weekly technical chart of the MDX coin suggests a downtrend in price for upcoming days. On the daily chart the price is observing a consolidated momentum . Resistance for MDX coin price while going upside can be seen near $2. The bounce back in the coin price while going down can be seen near $1. The asset price is currently below the 50 and 100 Daily Moving Average, with a negative crossover in the past. The 50 DMA is currently near the value of $1.73, making it a temporary hostile region for the price. Mdex price has formed a consolidated momentum on the daily chart. If it breaks above the zone then a strong bullish momentum can be observed. MDX/BTC pair is currently in a downtrend and can revert back to the uptrend.
Conclusion
MDX coin price has given great returns to the investors in the past and can soon see the upturned. Its popularity is increasing among the investors which push the price further high. An Investor should do their due diligence before investing.
Technical Levels
Major Support:$1
Major Resistance:$2