- MDEX token price is currently in a supply zone on the daily chart. In contrast, it has seen a loss of 5% in the intraday session.
- Technical indicators for MDX coin highlights an uptrend despite the fall in BTC . Meanwhile, the MDX/BTC pair is seeing a gain of more than 2.34% in the past 24 hours.
Why Invest In MDX Token?
MDEX ICO came in JAN 2021 and has seen an uptrend ever since. It has already usurped Uniswap, Sushiswap , Pancake and various others in popularity.MDEX is an automated market making (AMM) working on a decentralized protocol which functions on the concept of fund pools. It has various similarities with DEX but it differentiates itself by using the Dual chain model on both Ethereum and Huboi Ecological chain models. It also benefits from the liquidity of ETH and super low transaction fee HECO. MDEX is dominating the DEX market trading volume. It is currently leaving behind Uniswap in terms of cost and transaction speed. MDX token price has made an all time high of $10 and it can soon see a major movement in the future.
Technical Indicators Suggests An Uptrend For MDX Coin Price
Mdex coin price weekly chart indicates a consolidated momentum for the upcoming days. On the daily chart the price is seeing a weak bearish momentum. Resistance for MDX token price on the upside can be observed near $3.5. The bounce back in the coin price can be seen from $1.5. The asset price is currently below the 50 Daily Moving Average. The 50 DMA is currently near the value of $2.3, making it a temporary resistance for the price. Mdex price has formed a supply zone on the daily chart. If it breaks above the zone then a strong bullish momentum can be observed. MDX/BTC pair is seeing an uptrend and can soon see a break out above the major resistance
RSI(Bearish): RSI for the asset price is currently near 43, showcasing its presence in the neutral zone. There is a small negative slope formation in the RSI, which suggests a downside correction. RSI depicts a consolidated momentum in price
Conclusion
MDX token price made it profitable in a very short period and can do the same in the long term. 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:$1.5
Major Resistance:$3.5