- MDX Token price has increased more than 12% in the past week.
- The price action analysis indicates the price climbs higher on the Fibonacci steps in the daily chart.
- The pair of MDX/BTC is trading at 0.00002541 BTC with an intraday gain of +6.68%.
MDX coin price action forms bullish engulfing candlesticks in the daily chart. However, the candlestick shows higher price rejection from the 50% Fibonacci level at $1.55. Nonetheless, the price action analysis shows the price climbing each step of the Fibonacci retracement.
The intraday volume is above the 20-days volume MA representing that the buying pressure is increasing. In Addition, the coin price is trading above all the crucial daily EMAs, projecting a bullish rally.
The MDX Token price trades at $7.09, increasing +6.86% in market capitalization over the past 24 hours, suggesting that the price faces solid opposition from the 50% Fibonacci Level.
MDX’s intraday trading volume has risen by 65% due to the increased interest of investors.
MDX Token In The 4-hour Chart
MDX token price shows higher price rejection as it struggles to rise above the $1.55 mark. The price retraces to the previous support zone near the $1.35 mark, which coincides with the 38.20% Fibonacci level.
As per price action, the resistance levels for the token are residing at $1.55 and $1.70 marks. In the case of a bearish reversal from any support level, bulls may find resistance at $1.35 or $1.28.
The EMAs in the 4-hour technical chart climb higher in a bullish formation with a positive slope that may support the prices in a bearish attack.
The RSI indicator forecasts a surge in underlying bullish biases regarding the slope of RSI spikes higher in the daily chart.
The ADX indicator represents a fall in trend momentum as the price retraces.
Conclusion – The MDX token price soars above all the EMAs. However, the rejection from $1.55 may drive the price back to the support zone of $1.35 in the 4- hour. Therefore, the reversal from this level will act as a bullish entry spot.
Support – $1.35 and $1.28
Resistance – $1.55 and $1.70