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Mdex Price Analysis: MDX May Give Parabolic Move Upto $10.23 in Futur

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  • Mdex price is in an uptrend at 5.3% during the intraday trading session.
  • The 24-hour trading volume is at $106 million.
  • MDX/BTC pair is trading positive by 6.1% at 0.00003327 BTC. 
Source: MDX/USDT on TradingView

The daily technical chart and price action of Mdex display an uptrend. According to the pivot levels, the primary support level is $1.33. On the other side, if it rushes up, the resistance level to follow is $1.63. Although the chart forms an inverted hammer candlestick pattern within the day, it is predicted that the price may remain downwards with medium reliability.

The Zig-Zag framed a top of $10.23 on Feb 22. After that, investors can notice a massive correction of 90%, all the way low to $1.04. Now price levels are back around the range of $1.50 this week. 

The volume of (22.18M) is above the MA of 20-days (14.068M). As a result, the volume is high, causing its price to get rejected at the resistance zone. Investors may also mark that the volume bars on the chart are inclining, which intimates that notable volatility is expected in the upcoming trading session. 

The Stochastic RSI (bullish) with a K-90 D-77 presents a buy signal in the coin. Investors may observe an inclining slant and a positive crossover in the index. It may remain in positive territory for future trading sessions.

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Mdex Price Action Maintains a Healthy Gain of 32.3% in a Month

Today’s Mdex price is US$1.56, and the 24-hour trading volume is US$106,959,264. The price of MDX has increased by 5.3% in the past 24 hours. It has 650 million MDX coins for a total of 453 million. The stochastic RSI indicator shows a buy signal, and the traders have guided high volume. Technically, the price gets rejected around resistance and remains in an uptrend. Therefore, as with overall market sentiment, the trend remains bullish.

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